DOW JONES NEWSWIRES
Jacobs Engineering Group Inc. (JEC) received a three-year
extension of its engineering and science contract with the National
Aeronautics and Space Administration at the Johnson Space
Center.
The $978 million extension at the Houston facility, one of seven
current contracts with NASA centers, calls for the engineering
consulting company to provide various services related to the
International Space Station, the final space shuttle flights and
the next-generation Orion spacecraft.
The contract's value is now $2.16 billion as it gets extended to
eight years. Jacobs has various subcontractors for the Johnson
Space Center work.
Jacobs and its peers such as Foster Wheeler AG (FWLT) and Fluor
Corp. (FLR) are vulnerable as oil and gas customers cut spending.
However, in recent months Jacobs has won a number of government
infrastructure, military and other contracts in the U.S. and
abroad.
Shares closed at $44.18 on Monday and didn't trade
premarket.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
tess.stynes@dowjones.com