Supports safe operation of Royal Navy submarines
DALLAS, Jan. 25,
2024 /PRNewswire/ -- Jacobs (NYSE:J) was selected to
supply research and technology services to the United Kingdom's naval nuclear propulsion
program.
The $132 million (£108 million)
contract, which runs until 2032, covers essential through-life
technical support for the reactors which power the Royal Navy's
submarines, including the Rolls-Royce PWR2 reactors, and reactor
development for future boats.
The U.K. is currently building four new Dreadnought Class
ballistic missile submarines and is developing a new type of
submarine as part of the AUKUS security agreement with the U.S. and
Australia.
"With this contract, Jacobs will play a key role in supporting
existing submarines and developing future propulsion plant for the
Ministry of Defence," said Jacobs Vice President Andy White. "Our business has supported the
Royal Navy's nuclear submarines since design work on the first boat
began in 1958. At a time when the U.K. is committed to a long-term
investment in a new generation of vessels to safeguard national
security, this work is as important as it has ever been."
Jacobs provides comprehensive laboratory and analytical
resources and world-leading capability in materials science, high
integrity engineering, physics, chemistry and many other
disciplines. The company is also responsible for delivering nuclear
safety and technical advice to the Royal Navy's submarine service
under a $230 million (£185 million),
10-year contract awarded last year.
"We're committed to sustaining the Astute and Vanguard Class
submarines and with this contract, the crucial technical support
for the reactors that power our submarines will continue to be in
good hands," said U.K. Minister for Defence Procurement
James Cartlidge. "This will provide
another economic boost, supporting 100 more U.K. jobs, with Jacobs
already having in excess of 11,000 people across the country."
At Jacobs, we're challenging today to reinvent tomorrow by
solving the world's most critical problems for thriving cities,
resilient environments, mission-critical outcomes, operational
advancement, scientific discovery and cutting-edge manufacturing,
turning abstract ideas into realities that transform the world for
good. With approximately $16 billion
in annual revenue and a talent force of more than 60,000, Jacobs
provides a full spectrum of professional services including
consulting, technical, scientific and project delivery for the
government and private sector. Visit jacobs.com and
connect with Jacobs on Facebook, Instagram, LinkedIn and
X.
Certain statements contained in this press release constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements that do not directly relate to any
historical or current fact. When used herein, words such as
"expects," "anticipates," "believes," "seeks," "estimates,"
"plans," "intends," "future," "will," "would," "could," "can,"
"may," and similar words are intended to identify 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 including,
but not limited to, our plans to spin off and merge with Amentum
our Critical Missions Solutions business and a portion of our
Divergent Solutions business in a proposed transaction that is
intended to be tax-free to stockholders for U.S. federal income tax
purposes, the timing of the award of projects and funding and
potential changes to the amounts provided for under the
Infrastructure Investment and Jobs Act and other legislation
related to governmental spending, as well as general economic
conditions, including inflation and the actions taken by monetary
authorities in response to inflation, changes in interest rates and
foreign currency exchange rates, changes in capital markets, the
possibility of a recession or economic downturn, geopolitical
events and conflicts, and the impact of any future pandemic or
infectious disease outbreak, including the related reaction of
governments on global and regional market conditions, among others.
For a description of some additional factors that may occur that
could cause actual results to differ from our forward-looking
statements, see 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 in our most recently filed Annual Report on
Form 10-K, 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.
For press/media inquiriesmedia@jacobs.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/jacobs-awarded-132-million-uk-ministry-of-defence-research-and-technology-contract-302043721.html
SOURCE Jacobs