YOU ARE HERE: LAT HomeCollections


Jacobs Wins $966-Million NASA Deal

March 03, 2004|From Bloomberg News

Jacobs Engineering Group Inc. of Pasadena said Tuesday that it got a $966-million award to provide research, maintenance, engineering and other services to NASA.

The five-year contract is with the National Aeronautics and Space Administration's Langley Research Center in Hampton, Va., the company said in a statement.

Jacobs has provided technical services for the center since the 1970s.

Jacobs had $4.62 billion of sales last year, second only to Fluor Corp. among publicly traded U.S. engineering-services companies.

Chief Executive Noel Watson said in October that Jacobs would seek to expand by acquisitions in oil and gas, and the infrastructure business.

Contract terms with NASA allow the agreement to be extended by as many as five years, for a total contract period of 10 years.

It is effective May 1, the company said.

Shares of Jacobs fell 48 cents to $44 on the New York Stock Exchange.

They have fallen 8% this year; they rose 35% last year.

Los Angeles Times Articles