In addition to its fleet of acquisitions, engineering and
Jacobs Engineering Group Inc.
) secured a contract from the privately-held ASHTA Chemicals Inc.
The contract, involving an expenditure of $60 million, pertains to
the upgrade of ASHTA's chlorine and potassium-based chemicals plant
in Ashtabula, OH. However, the value of the contract was not
Per the contract, which is expected to consummate in 24 to 30
months, Jacobs will provide engineering, procurement and
construction management services to ASHTA. The company will replace
the plant's mercury cell processing technology by membrane cell
technology, thereby saving roughly 20% of power. This will also
enhance component lifetime along with improving worker safety.
Further, Jacobs recently won a contract from Heathrow Airport
Limited to act as the Program Designer, Airport Resilience. The
contract is part of the airport's five-year investment plan,
included in the 2014-2019 business plan of Heathrow.
The Airport Resilience is part of four strategic programs
accounting for a total investment of $3.4 billion. Jacobs will be
responsible for development of railways, taxiways, pavements and
related terminal airside assets.
Jacobs aims to utilize its expertise to provide airport
infrastructure services worldwide. Its work on O'Hare International
Airport in Chicago has won Jacobs the 2014 National Excellence
Award from the American Council of Engineering Companies.
With all the contract wins and successful past executions, we
expect the company to prosper in the coming quarters. Jacobs has a
market capitalization of $7.1 billion and holds a Zacks Rank #4
(Sell). Some better-ranked stocks in the industry include
Willdan Group, Inc.
Quanta Services, Inc.
Northrop Grumman Corporation
). While Wildan Group sports a Zacks Rank #1 (Strong Buy), Quanta
Services and Northrop Grumman have a Zacks Rank #2 (Buy).
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