Leading engineering and construction company
, Jacobs Engineering Company
) recently entered into an agreement with
Eastman Chemical Company
) to provide its services for the latter's Corporate Business
Centre in Kingsport, Tenn. The financial terms of the contract
are yet to be divulged.
Per the contract, Jacobs will provide engineering,
architecture and interior design services to the business centre.
The contract is an integral part of Project Inspire, a $1.6
billion development project coinciding with Eastman's centennial
celebrations. The construction of the Corporate Business Centre
is expected to be complete in 2015 and is likely to feature an
extended state-of-the-art corporate campus.
Since Aug 2010, Jacobs has worked on various capital
construction projects, site-maintenance support and program
management services for Eastman. The new contract is seen as an
extension of their long business relationship as both companies
aim to strengthen their regional presence.
Calif.-based Jacobs is one of the leading providers of
professional, technical, and construction-based services to
industrial, commercial and government clients. The company
provides its services through more than 200 offices and
subsidiaries located across North America, Europe, Asia and
The continuous contract wins by Jacobs is seen as a successful
implementation of its operating strategies. In addition, majority
of the company's contracts are extended after their expiry, which
reflects customers' faith in its services. Roughly 94% of its
revenues in the last reported quarter was from contract renewals
by existing customers. Going forward, we expect Jacobs to
continue benefiting from such businesses.
Jacobs currently carries a Zacks Rank #3 (Hold). Other stocks
that are worth a look in the industry include
Michael Baker Corporation
), carrying a Zacks Rank #1 (Strong Buy), and
Willdan Group, Inc.
) carrying a Zacks Rank #2 (Buy).
BAKER (MICHAEL) (BKR): Free Stock Analysis
EASTMAN CHEM CO (EMN): Free Stock Analysis
JACOBS ENGIN GR (JEC): Free Stock Analysis
WILLDAN GROUP (WLDN): Get Free Report
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