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Two New Contracts for Jacobs

Zacks Equity Research

Jacobs Engineering Group Inc. (JEC), a construction services provider, recently increased the count of its contract awarded in the year 2013, by receiving two contracts on the same day.

Jacobs received its first contract from Sanofi Pasteur, the vaccine wing of Sanofi S.A. (SNY). Sanofi S.A., based in France, which is one of the largest pharmaceutical companies in the world. Sanofi Pasteur produces more than one billion doses of vaccine each year, saving lives against more than 20 diseases.

Per the contract, Jacobs is required to provide engineering services to Sanofi’s Flu Vaccine Facility in Ocoyoacac, Mexico. The value of the contract remains undisclosed.

Jacobs was also selected as one of the panel members by Australian gas producer, Santos. The contract relates to Santos’ Eastern Australia Business Unit (:EABU). The duration as well as value of this contract are still undisclosed.

Per the contract, Jacobs will provide engineering, design and project management services for the oil and gas assets of Santos, in the central and east coast regions of Australia. Jacobs will carry out its operations from its offices in Adelaide, Melbourne and Brisbane.

There has been a long standing association of Jacobs with Sanofi as well as Santos. These contracts evidently show the satisfaction these two companies derived from Jacobs’ services. It is believed that both the above contracts will help Jacobs extend its reach in regions outside the U.S. and give the company an edge over others.     

Jacobs currently carries a Zacks Rank #2 (Buy). Other stocks worth a look in the services industry are AECOM Technology Corporation (ACM), and Mistras Group Inc. (MG); both carrying a Zacks Rank #2 (Buy) as well.

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