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Primoris Services Corporation Announces Industrial Awards Valued Over $17 Million

DALLAS, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new awards valued over $17 million with a major industrial gases company. The contracts were secured by Primoris Industrial Constructors, part of the Power, Industrial, and Engineering segment.

  • The awards are for civil and mechanical work for a new industrial gas plant in Louisiana.  The work includes concrete foundations and erection of process mechanical equipment.

  • The civil portion of this work was awarded in the 2018 third quarter and is included in the quarter-end backlog.

  • Civil construction started in the third quarter 2018, and mechanical construction is scheduled to begin in the fourth quarter of 2018.  Completion is planned for the third quarter of 2019.

ABOUT PRIMORIS

Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the largest publicly traded specialty construction and infrastructure companies in the United States. Serving diverse end-markets, Primoris provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation, and other customers. Growing both organically and through acquisitions, the Company’s national footprint now extends nearly nationwide and into Canada. For additional information, please visit www.prim.com.

FORWARD LOOKING STATEMENTS

This press release contains certain forward-looking statements, including with regard to the Company’s future performance. Words such as "estimated," "believes," "expects," "projects," “may,” and "future" or similar expressions are intended to identify forward-looking statements.  Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, including without limitation, those described in this press release and those detailed in the "Risk Factors" section and other portions of our Annual Report on Form 10-K for the period ended December 31, 2017, and other filings with the Securities and Exchange Commission.  Given these uncertainties, you should not place undue reliance on forward-looking statements.  Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Company Contact
Kate Tholking
Vice President, Investor Relations
(214) 740-5615
ktholking@prim.com

 

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