Jacobs Invests in China, Brazil ExpansionTuesday, November 5, 2013
Jacobs Engineering Group Inc. on Tuesday announced two acquisition-related deals in China and Brazil to build its overseas operations.
The Pasadena provider of technical, professional and construction services said that its Shanghai subsidiary, Jacobs Projects (Shanghai) Co., signed an option agreement with Suzhou Han’s Chemical Engineering Co. that gives Jacobs the opportunity to acquire the business upon the satisfaction of certain conditions. Suzhou Han has two specialty Class A design licenses that would enable Jacobs to provide services in China for chemical and petrochemical projects.
Jacobs said it also acquired an interest in Guimar Engenharia, an engineering services company in Rio de Janeiro. Guimar has clients in industries such as chemicals, foods, mining and construction industries. The acquisition is Jacobs’ first significant investment in Brazil, it said, and enhances the company’s ability to serve several important clients that do business in that country.
Jacobs shares closed up 3 cents, or less than 1 percent, to $61.58 on the New York Stock Exchange.