Jacobs Increases Ownership in Jacobs ZATE
Company officials confirmed an increase ownership in Jacobs ZATE from 60% to 75%.
Jacobs ZATE is a provider of professional engineering, construction management, and project management services operating across oil & gas, refining, chemicals, mining and minerals, power and utilities, buildings and infrastructure sectors; with particular focus on supporting Saudi Aramco, Ma’aden, and government clients. Its workforce comprises more than 1,500 employees.
In making the announcement, Jacobs Group Vice President Bassim Shebaro stated, “We are very pleased to increase Jacobs’ commitment and presence in Saudi Arabia. Our focus on long term growth creates value for our clients, our partners, and our employees. We expect this acquisition to augment our service offerings, enabling us to continue delivering excellence for our clients.”
In March 2008, Jacobs acquired a 60 percent stake in the Saudi Arabian firm of Zamel & Turbag Consulting Engineers (ZATE), now known as Jacobs ZATE. The combination of ZATE with Jacobs’ existing operations in Saudi Arabia created an enhanced capability spanning general engineering services, conceptual design, front end engineering design, detailed design, procurement support, construction management, project management consultancy, and operations & maintenance. Jacobs ZATE is a major employer of highly skilled staff in Saudi Arabia, and is a participant in Saudi Aramco’s General Engineering Services Plus (GES+), a program geared toward developing a long-term, sustainable workforce in-Kingdom.
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 2013 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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