Jacobs Joint Venture Buys Finnish Firm

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Finnish refiner Neste Oil said Thursday that Neste Jacobs, a unit it owns jointly with Jacobs Engineering Group Inc., will acquire Finland-based engineering services provider Rintekno for an undisclosed sum. The move will strengthen Neste Jacobs’ position in engineering services in the Nordic region.


Neste Jacobs, which is 60 percent-owned by Neste and 40 percent-owned by Pasadena-based Jacobs, is buying 90 percent of Rintekno’s stock from Birmingham, Ala. engineering firm BE & K; Inc. Neste Jacobs already controls the remaining 10 percent. Rintekno employs about 230 people.


Shares in Jacobs shot up 5.6 percent to $102.05 in early trading Thursday on the New York Stock Exchange.

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