Jacobs Receives Magnox Electric Contract.PASADENA, Calif. -- Jacobs Engineering Group Jacobs Engineering Group Inc. (NYSE: JEC), a publicly traded company with annual revenues approaching $7 billion, provides professional technical services. Headquartered in Pasadena, CA, Jacobs offers support to industrial, commercial, and government clients across multiple Inc. (NYSE NYSE See: New York Stock Exchange :JEC) announced today that they have received a contract from Magnox Electric Limited, a subsidiary of British Nuclear Group British Nuclear Group (BNG) is a subsidiary of BNFL. One of it main aims is to manage the decommissioning of many of the UK's nuclear assets under contract to the Nuclear Decommissioning Authority, a government body set up specifically to deal with the nuclear legacy under the , for reactor site resource enhancement at two reactor sites in the United Kingdom. Officials did not disclose the value of the contract, which has an initial period of two years plus three option years. Under the terms of the contract, Jacobs is providing senior project management personnel for decommissioning Decommissioning is a general term for a formal process to remove something from operational status. Some specific instances include:
Jacobs is primarily supporting British Nuclear Group from the U.S., where Jacobs has been a major contractor to the U.S. Department of Energy's decommissioning and cleanup efforts for over 20 years. Jacobs is also providing services from its offices in the U.K. In making this announcement, Jacobs Group Vice President Mike Higgins Michael S. Higgins (born February 17, 1967 in Grand Island, Nebraska) is an American professional basketball player. A 6'9" power forward from the University of Northern Colorado, Higgins played two seasons (1989-1991) in the National Basketball Association as a member of stated, "We are honored that British Nuclear Group selected us to support Magnox decommissioning and cleanup activities. This is an important initiative and we look forward to applying our substantial U.K. resources as well as lessons learned from the U.S. to the challenges of cleaning up the Magnox stations." Jacobs, with over 35,000 employees and revenues exceeding $5.0 billion, provides technical, professional, and construction services globally. Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management's best judgement as to what may occur in the future. However, Jacobs' actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Forward-Looking Statements" included in Item 7 -- Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations contained in the Company's 2004 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . |
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