Construction and engineering company, Jacobs Engineering Group Inc. (JEC - Free Report) won three contracts. While the company won two Indefinite Delivery/Indefinite Quantity (IDIQ) contracts from the U.S. Army Corps of Engineers, it was awarded another contract by NatureWorks.
Per the first IDIQ contact, Jacobs will provide architect and engineer services to the Army Reserve projects and the military projects within Great Lakes and Ohio River Division mission boundaries. The $9 million contract spans five years.
Under the contract, Jacobs may also be required to provide vehicle maintenance shops, training centers, stand-alone buildings for the Army Reserve facilities and military installations.
The second IDIQ contract was awarded to Jacobs’ joint venture with Stantec Inc. (STN - Free Report) . Per the contract, the joint venture will provide architect and engineer services for Air Force, Army and other Civil Works project within the Great Lakes and Ohio River Division mission boundaries. Like the earlier contract, the $9.5 million contract also spans five years.
This contract has a wide scope and encompasses many different building types, utility projects for installations, site development, flood damage reduction studies and designs, navigation improvements, geotechnical investigations, planning and design of waterfront facilities, stream bank erosion control, among others.
The third contract was awarded by NatureWorks, a joint venture between Thailand-based chemical producer, PTT Global Chemical and privately-owned Cargill Inc.
Per the contract, Jacobs will provide engineering services to NatureWorks’ Ingeo production plant in Southeast Asia. Jacobs will offer front-end engineering design work, including major equipment design, from its office in Greenville, S.C. The contract value remains confidential.
Jacobs’ experience in polymer and chemical plant design and construction helped the company gain the contract. We expect the continued contract wins to expand the company’s revenues along with enriching its geographical reach.
Jacobs currently carries a Zacks Rank #3 (Hold). Other stocks worth a watch in the industry include Michael Baker Corporation and Foster Wheeler AG . While Michael Baker Corp. carries a Zacks Rank #1 (Strong Buy), Foster Wheeler carries a Zacks Rank #2 (Buy).