Primoris Services Corporation Announces Industrial Award Valued at $12 Million

Globe Newswire 21-Mar-2019 7:30 AM

DALLAS, March 21, 2019 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) ("Primoris" or "Company") today announced a new industrial award valued at approximately $12 million with a major industrial gases company.  The contract was secured by Primoris Industrial Constructors, part of the Power, Industrial, and Engineering segment. 

• The award is for the second phase of process mechanical construction on a new industrial gas plant in Louisiana. 
• The work consists primarily of installation of processing piping, structural steel erection, and equipment setting.  In 2018, Primoris was awarded the civil scope of work and the first phase of the process mechanical scope of work.
• Work is scheduled to commence in the first quarter of 2019 and completion is expected in 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, 2018, 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