PASADENA, Calif.--(BUSINESS WIRE)-- Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it has been awarded a modification to extend the Test and Operations Support Contract (TOSC) at NASA Kennedy Space Center (KSC) in Florida.
The cost-plus-award-fee option for the baseline work extends the contract for a period of two years and is valued at $172.8 million. The contract’s indefinite-delivery indefinite-quantity ordering provision, with a maximum order limit of $500 million for the life of the contract, was also extended for a concurrent two-year period.
Under the terms of the TOSC contract, Jacobs provides ground processing for launch vehicles, spacecraft, and payloads in support of emerging programs, commercial entities, and other government agencies at KSC. Services include advanced planning and studies; development of ground systems; operational support for the design and development of flight hardware and ground systems; spacecraft, payload and launch vehicle servicing and processing; ground systems services; and logistics.
In making the announcement, Jacobs Group Vice President Ward Johnson stated, “We are pleased to support NASA at Kennedy Space Center and to continue our long-time partnership with NASA as they begin a new generation of space exploration.”
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.
Source: Jacobs Engineering Group Inc.
Jacobs Engineering Group Inc.
Michelle Jones, 626-578-6968