& #8226; Jacobs Engineering Group Inc.
announced that subsidiaries have been awarded engineering contracts from Canadian companies Suncor Energy Services Inc. and Agrium Inc. The Suncor contract is for providing engineering and design services for hydroprocessing and sulphur recovery units at a Alberta, Canada facility. The project will be completed by Nov. 30.
Pasadena-based Jacobs will provide engineering and construction management services for Agrium’s nitrogen project, which converts urea produced at an Alberta plant into fertilizer.
The values of the contracts were not disclosed.
& #8226; Reliance Steel & Aluminum Co.
, an L.A.-based metal processing services supplier, raised first-quarter profit guidance on Tuesday, citing increased volume and pricing levels throughout the quarter. The company now expects earnings of $1.30 to $1.40 per share in the first quarter ended March 31, above its previous projection of $1.05 to $1.15 per share. The current analysts’ earnings estimates for the quarter range from $1.10 to $1.15 per diluted share.
& #8226; Northrop Grumman Corp.
received a seven-year contract to provide hardware support for a passive, anti-submarine warfare sonar system for the Navy’s Virginia-class submarine program. Under the $42.1 million subcontract with Lockheed Martin, Northrop’s Electronic Systems sector will handle integration of the hardware for a sub component.
& #8226; JAMDAT Mobile Inc.
has acquired the publishing and distribution rights, excluding Korea, for Activision’s Tony Hawk’s Pro Skater video game. Under the terms of the agreement, L.A.-based entertainment publisher JAMDAT has the exclusive rights to publish a version of the popular sports title for mobile phones and wireless devices.
& #8226; TAG Entertainment Corp.
signed a letter of intent to acquire all of the outstanding shares of capital stock of Myriad Pictures, Inc. The Beverly Hills-based entertainment company said Myriad has become its first acquisition to strengthen its production and distribution business. TAG said the terms of the letter of intent provide for TAG to pay a purchase price comprised of cash, debt and common stock, plus commitments to provide additional capital to Myriad following closing. The deal is expected to close before the end of the third quarter.
& #8226; NetSol Technologies, Inc.
, a Calabasas-based software applications developer, signed a contract valued at more than $2 million with a Bangkok-based auto finance company. Under the terms of the agreement, NetSol will produce and implement a customized version of its leasing software for the company. The contract also includes revenues through annual maintenance and support, historically priced at up to 15 percent of the initial contract value.
Due to confidentiality agreements, NetSol has agreed not to publish the new client’s brand name. NetSol said the client is one of the five largest auto finance companies worldwide, operating in more than 50 countries.
