Strengthening the mutual relationship, Jacobs Engineering Group Inc. (JEC) procured a new contract from the United Kingdom Ministry of Defence (MOD). The contract entails Jacobs to provide delivery advisor services to the Defence Equipment and Support (DE&S) organization of the MOD. However, the tenure and contract value are yet to be disclosed.
The DE&S organization is responsible for the acquisition of equipment, support services and logistics for the UK Armed Forces, holding an annual budget of $28.0 million.
The organization is currently scrutinizing options to improve its acquisition system. DE&S has two options at present to choose from, either to adopt a private-sector-led government-owned contractor-operated (:GOCO) model or a restructured version of DE&S that remains within the public sector. Jacobs is also expected to help the organization in this decision-making process.
In a separate incident, Jacobs’ designed cogeneration plant at Texas A&M University received 2013 ENERGY STAR Combined Heat and Power (:CHP) Award by the U.S. Environmental Protection Agency.
The plant was designed to consume only two-thirds of the fuel required in such plants and generate up to 45 megawatts of energy while preventing air pollution at the same time. Apart from efficient functioning in a power outage situation, the plant has also helped the Texas A&M University in saving energy to the tune of $1.0 million.
The award is a recognition of the continued excellence of Jacobs in its field. Moreover, Jacobs has historically received large contracts from renowned institutions like the UK Defence Ministry and NASA, which makes it even more trustworthy.
This engineering company currently carries a Zacks Rank #3 (Hold). Other stocks to watch out for in the industry include Michael Baker Corporation (BKR), carrying a Zacks Rank #1 (Strong Buy); whereas Harris & Harris Group, Inc. (TINY) and Willdan Group, Inc. (WLDN) carry a Zacks Rank #2 (Buy) each.Read the Full Research Report on JEC
More From Zacks.com
- Finance Trading
- UK Armed Forces