Jacobs Receives Extension to Hanford Plateau Remediation Contract

U.S. Department of Energy announces intention to extend Plateau Remediation Contract

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Sep 11, 2019, 07:45 ET

DALLAS, Sept. 11, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) has been notified of the U.S. Department of Energy Richland Operation Office's intent to extend the Plateau Remediation Contract for continued environmental remediation cleanup along the Columbia River and selected portions of the Hanford site. The Plateau Remediation Contract is managed by Jacobs-owned CH2M Hill Plateau Remediation Company and is currently set to expire on Sept. 30, 2019. The extension will run up to 12 months, beginning Oct. 1, 2019, to Sept. 30, 2020.

"Jacobs will continue to deliver safe and efficient progress on the Hanford Plateau Remediation Contract during this period of change," said Jacobs Aerospace, Technology and Nuclear Senior Vice President Karen Wiemelt. "We remain committed to the Department of Energy and the Tri-Cities community in delivering results that are protective of the environment and community at the Hanford site through 2020 and beyond."

The extension will allow work to continue while the acquisition process for follow-on procurements progresses and will be utilized only if needed after award of new contracts and transition periods.

"This decision will allow our team to complete important risk reduction efforts along the River Corridor and on the Central Plateau," said CH2M Hill Plateau Remediation President and CEO Ty Blackford. "This will include advancing work to remove highly radioactive soil beneath the 324 Building and move cesium and strontium capsules out of Waste Encapsulation and Storage Facilities (WESF) to dry storage."

Jacobs leads the global professional services sector providing solutions for a more connected, sustainable world. With approximately $12 billion in revenue and a talent force of more than 50,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.

Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. 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 additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended March 29, 2019, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

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SOURCE Jacobs