DALLAS--(EON: Enhanced Online News)--Jacobs Engineering Group Inc. (NYSE:JEC) has been awarded a construction management (CM) contract from Oxea Corporation for a Propanol Expansion project at its manufacturing site at Bay City, Texas. Propanol is used to manufacture products such as cosmetics and pharmaceuticals, printing inks, coatings and adhesives.
“It helps us reinforce our strong position as the largest producer of propanol worldwide. Propanol 2 will provide Oxea with opportunities for further expansion into profitable growth areas.”
Jacobs is delivering pre-construction planning and construction management services to help deliver the new Propanol 2 unit that will add a capacity of 100,000 metric ton per year of propanol and 40,000 metric ton per year of propionaldehyde. The unit is scheduled to come on line in 2018. Once commissioned, it will position Oxea for future growth and increased market demand. Oxea is already the largest producer of propanol worldwide, and one of the world’s leading suppliers of Oxo products such as alcohols, aldehydes and acids.
“This project reflects our long-term selective growth strategy,” said Oxea Executive Vice President Global Sales and Oxo-Intermediates Purnendu Rai. “It helps us reinforce our strong position as the largest producer of propanol worldwide. Propanol 2 will provide Oxea with opportunities for further expansion into profitable growth areas.”
“We are delighted to work with Oxea on this strategically important project,” said Jacobs Senior Vice President Downstream Mark Bello. “Our experience and lessons learned while executing similar U.S. Gulf Coast construction projects will contribute to the success of this important expansion.”
Jacobs is one of the world’s largest and most diverse providers of full-spectrum technical, professional and construction services for industrial, commercial and government organizations globally. The company employs over 54,000 people and operates in more than 25 countries around the world. For more information, visit www.jacobs.com.
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 Form 10-K for the year ended September 30, 2016, 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.