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05-11-2013

Jacobs announces an option agreement with Suzhou Han’s Chemical Engineering

Jacobs Engineering Group Inc announced today that its subsidiary, Jacobs Projects (Shanghai) Co., Ltd., has signed an option agreement with Suzhou Han’s Chemical Engineering Co., Ltd. (SHCE) in China in which Jacobs has the opportunity to acquire SHCE upon the satisfaction of certain conditions.

SHCE has two specialty Class A design licenses in China’s Chemical, Petrochemical and Pharmaceutical (CPP) industry, which allow the firm to provide engineering design, procurement and project management services for all chemical and petrochemical projects in China. Jacobs’ Shanghai operation currently has an industry Class B design license for the CPP industry in China, and has successfully executed a substantial number of EPCM projects for global clients investing in China.

In addition to enhancing Jacobs’ capabilities by bringing the Class A licenses, if Jacobs were to acquire SHCE, it would also add an engineering office in Suzhou, Jiangsu Province, and bring Jacobs’ personnel count in China to over 600. These combined resources would enable Jacobs to offer customers in China a complete spectrum of services for all types of chemical and petrochemical projects.

Upon making the announcement, Jacobs Group Vice President Tom Quinn stated, “The opportunity to acquire SHCE represents a significant milestone for Jacobs’ growth strategy in China and, if the acquisition is successfully completed, it would further develop our service offerings to clients, strengthen our ability to compete for projects, and provide more opportunities for our employees.”

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