DALLAS, TX--(Marketwired - April 05, 2017) - Primoris Services Corporation (NASDAQ: PRIM) ("Primoris" or "Company") today announced a new industrial award valued at approximately $10 million. The contract was secured by Primoris Energy Services' industrial division, part of the Energy segment. This award was signed in the first quarter of 2017 and will therefore be included in the first quarter backlog calculation.
- The project was awarded by a major energy infrastructure company for work on their natural gas transmission pipeline system in North Carolina.
- The project involves the installation of piping and yard valves for bi-directional flow at existing mainline compressor stations. The purpose of the work is to facilitate the reversal of gas flow in the pipeline system.
- Work on this project is scheduled to begin in the second quarter of 2017, and completion is expected in the fourth quarter of 2017.
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.
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, 2016, 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.
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