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BUSINESS NEWS JACOBS WINS ROLES ON MAJOR NEW WIND FARM PROJECT IN AUSTRALIA Jacobs Engineering Group Inc. has been appointed by the Powering Australian Renewables Fund, to carry out the project management and owners engineers’ roles for a proposed 200 megawatt wind farm in Western New South Wales, Australia. The $356 million Silverton Wind Farm will produce approximately 780,000 megawatt hours of renewable energy annually, enough to power more than 137,000 average Australian homes. The energy produced from the wind farm’s 58 turbines is predicted to reduce CO 2 emissions by 655,000 tons annually, which is the equivalent of taking 192,000 cars off the road each year. PARF is a partnership created by Australian energy company AGL Energy Limited to develop, own, and manage approximately 1,000 megawatts of large-scale renewable energy infrastructure assets and projects. The PARF’s equity partners include AGL and QIC, on behalf of its clients the Future Fund and those invested in the QIC Global Infrastructure Fund. The Future Fund is a sovereign wealth fund which aims to invest in projects that benefit future generations of Australians. “Jacobs has a proven history in successfully delivering all types of renewable power generation projects,” said Jacobs Senior Vice President Patrick Hill. “In wind, we have completed hundreds of projects globally and we have an extensive history in this market in Australia, especially working with AGL. “This project builds on the support we have provided AGL in the renewables market, delivering two of Australia’s largest solar power plants at Nyngan and Broken Hill. Jacobs will provide leading edge project management capabilities combined with our engineering skills to help AGL deliver this landmark project,” added Hill. AECOM TO ACQUIRE SHIMMICK CONSTRUCTION TO EXPAND ITS CIVIL CONSTRUCTION CAPABILITIES IN THE WESTERN U.S. AECOM , a premier, fully integrated global infrastructure firm, and Shimmick Construction announced a

definitive agreement for AECOM to acquire Shimmick, an established leader in the California and Western U.S. heavy civil construction market. The acquisition, which is subject to customary closing conditions, is expected to close in AECOM’s fiscal fourth quarter. Shimmick has approximately 1,000 employees and a total backlog of approximately $1.35 billion that includes a wide portfolio of iconic infrastructure projects. Annually, the company generates approximately $300 million of revenue and is responsible for put in place construction value1 of approximately $400 million. The enterprise value of the acquisition is $175 million and the transaction is expected to be accretive to AECOM’s adjusted EPS upon closing. The addition of Shimmick provides AECOM with leading civil construction capabilities across the western U.S., which is set to benefit from several years of expected growth from the nearly $180 billion of recently-approved ballot measures, including Measure M in Los Angeles, Measure RR in San Francisco and Sound Transit 3 in Seattle. In addition, the California legislature recently passed the $52-billion Road Repair and Accountability Act, which will significantly increase transportation-specific spending in the state over the next decade. These developments in California are expected to support nearly double-digit annual growth projected over the next four years in the state’s infrastructure market, which will begin to address its estimated $190 billion of unmet infrastructure needs. “Shimmick’s civil infrastructure expertise provides an immediate complement to our leading North American design practice, further enhancing our integrated delivery offering as governments and their constituents have approved hundreds of billions of dollars to improve infrastructure across the Western U.S.,” said Michael S. Burke, AECOM’s chairman and chief executive officer. “As momentum across our Americas infrastructure markets builds, enhancing our construction capabilities is a critical next step to ensure we best capitalize on the tremendous opportunities in front of us.”

With Shimmick’s strong execution track record and AECOM’s leading project management and design market presence, AECOM will be better positioned to capture a greater share of the market spend, especially as clients increasingly procure services on an integrated basis. Approximately half of all large non-residential projects in the U.S. are now executed through design-build delivery, and AECOM has a nearly $40 billion pipeline of alternative delivery pursuits across the U.S., including $6 billion in California alone. “No organization is better positioned to plan and deliver the next generation of American infrastructure than AECOM, with the addition of Shimmick further bolstering our design-build capabilities,” said Daniel P. McQuade, AECOM group president, Construction Services. “Drawing on our successful history of integrating leaders in the construction industry, we are excited to welcome the talented Shimmick team and leverage our combined expertise to meet the needs of our clients and the cities they serve.” “This is a compelling combination that significantly enhances our value proposition with key clients, and provides new growth opportunities for our employees,” said Paul Cocotis, Shimmick’s chairman and chief executive officer. “AECOM is an ideal partner, with world-class expertise and leadership, strong financial discipline and a proven ability to integrate construction services into more complex projects in more geographies.” Shimmick’s portfolio of projects include over a decade of experience on the Golden Gate Bridge in San Francisco, the Gerald Desmond Bridge Replacement in Long Beach, the E320 South Bellevue Extension in Seattle, the HART Airport Guideway and Stations design- build project in Honolulu, and the Miramar Clearwell Improvements project in San Diego.

BA: Continued growth of around 20 percent per year – our focus is on finding the right people not on how quickly we can grow. “I tell prospective employees that if you’re looking for a job we probably aren’t a great fit, if you’re looking for a career this is where you need to be.”

CONFERENCE CALL, from page 7

BA: We encourage entrepreneurship at every level of our or- ganization. Employees are continually encouraged to bring new ideas and to take ownership in the project they are working on. I tell prospective employees that if you’re look- ing for a job we probably aren’t a great fit, if you’re looking for a career this is where you need to be. TZL: What’s your prediction for 2017 and for the next five years?

THE ZWEIG LETTER September 25, 2017, ISSUE 1217

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