May 5 2010
Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received a $50 million ceiling increase to its acquisition, logistics, management, and business operations support (ALMBOS) contract with the United States Special Operations Command (USSOCOM).
Under the ALMBOS contract, Jacobs provides services to USSOCOM headquarters staff, its service components and the Theater Special Operations Commands.
The ceiling increase makes the contract worth up to $510 million and also includes an additional extension option that could raise the ceiling to $590 million if exercised.
There are currently more than 398 Jacobs' employees supporting USSOCOM worldwide under the contract, which went into effect May 1, 2002. ALMBOS is the follow-on contract to the system engineering and technical assistance II contract USSOCOM awarded to Jacobs in 1997.
The increase in the contract ceiling allows for the continued support to USSOCOM in the final option year of the contract, bringing the contract support to eight years. Jacobs serves as the prime contractor for the effort and draws support from both large and small business subcontractors.
In making this announcement, Jacobs President and CEO Craig Martin stated, "This is a great display of the confidence that the U.S. Special Operations Command has in Jacobs and our team. Our support of their critical and unique responsibilities for organizing, training, equipping and leading special operations forces for their worldwide missions in times of peace and war is very rewarding. We are proud to expand our support and continue the longstanding relationship we have within the headquarters and its component commands."
Source: http://www.jacobs.com/