Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it was awarded a contract to provide engineering services for the expansion of Mitsubishi’s polyester film plant in Greenville County, South Carolina. Mitsubishi Polyester Film is the American subsidiary of Japan-based Mitsubishi Plastics, Inc. and the largest polyester film plant in the U.S.
Under the terms of the agreement, Jacobs is providing engineering services for the $100 million investment, which includes installation of a polyester film production line that is expected to combine high level technology with production efficiency. Mitsubishi plans to use the line to support its business growth in both U.S. and overseas markets.
In making the announcement, Jacobs’ Senior Vice President Specialty Chemicals, Andrew Berryman stated, “We are excited Mitsubishi chose Jacobs to invest in its existing facility. Our team is committed to delivering a safe, innovative project to support Mitsubishi’s customers and markets around the world.”
The project is expected to be complete by late 2017.
Mitsubishi Polyester Film, Inc. is an affiliate of Mitsubishi Plastics, Inc. and offers a wide array of polyester films for the Industrial, Packaging, Imaging and Electrical markets. Mitsubishi Plastics, Inc. has additional polyester film assets in Japan, China, Indonesia and Germany.
Jacobs is one of the world's largest and most diverse providers of technical, professional and construction services.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management’s current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2015 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
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Robin Shermer, 817-735-6284
