PASADENA, Calif. – Jacobs Engineering Group Inc. (NYSE:JEC) announced today it was awarded a contract from Vastly (formerly Tranlin, Inc.) to lead permit acquisition and provide design services for its new $2 billion manufacturing plant in Chesterfield, Virginia. The plant represents Vastly’s first investment in North America and the single largest Chinese greenfield economic development project in the United States.
Under the terms of the agreement, Jacobs is responsible for supporting permit acquisition and developing the overall site design, which includes pulping facilities, tissue making and fertilizer production using Vastly’s proprietary technology. When complete, the plant will convert wheat straw into paper products and utilize residual nutrient streams to produce soil amendments.
In making the announcement, Jacobs President Industrial Bob Pragada stated, “This is an exciting opportunity for our global consumer products business. We have a long history of assisting our clients in growth and expansion in global manufacturing. We look forward to forging a strong, ongoing partnership with Vastly as we work together to develop this state-of-the-art facility.”
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 50,000 people and operates in more than 30 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 2015 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.