Jacobs Engineering Group Inc. (NYSE:JEC) announced the Department of Energy National Nuclear Security Administration (NNSA) awarded the management and operating (M&O) contract for the Nevada National Security Site (NNSS) near Las Vegas to Mission Support and Test Services LLC (MSTS), a joint venture led by Honeywell. MSTS is a limited liability company including Honeywell International Inc., and equity partners Jacobs and Stoller Newport News Nuclear, Inc. The award is valued at $5 billion over 10 years if all options are exercised.
"Jacobs is pleased to directly support the NNSA in their critical mission to enhance and ensure the future of the Nuclear Security Enterprise," said Jacobs Aerospace and Technology Senior Vice President Ward Johnson. "This contract builds on our successful track record for design and construction of DOE nuclear facilities and our status as a major provider of management and operations of nationally critical infrastructure, and furthers our position as a premier global provider of nuclear life-cycle solutions."
The NNSS testing facility and training ground supports a variety of national security experiments that promote the security of the U.S. and its allies through the development of nuclear deterrent and critical emergency response capabilities. A former nuclear test site, the 1,360-square mile NNSS serves as a major center for research and development advancing international nuclear monitoring and verification capabilities, as well as radiological/nuclear emergency response capabilities and training.
MSTS' mission is to manage and operate the NNSS contract safely, securely, effectively and efficiently while adhering to impeccable ethical standards. MSTS is committed to be the high- hazard experimentation and mission-service provider of choice for U.S. National Security customers. Phase-in of the NNSS M&O contract began August 1, 2017, and is on track for successful conclusion in November.
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 over 54,000 people and operates in more than 25 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 Form 10-K for the year ended September 30, 2016, 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.
Jacobs Engineering Group Inc.