DALLAS, TX--(Marketwired - February 22, 2017) - Primoris Services Corporation (NASDAQ: PRIM) ("Primoris" or "Company") today announced a microtunneling award valued at approximately $89 million. The contract was secured by Vadnais, part of the West Construction Services segment.
- The project was awarded by the City of Los Angeles and is located in Marina Del Rey, California.
- The project is for the construction of a new force main sewer to supplement an existing force main sewer that was built in 1960.
- The scope of work includes 10,500 linear feet of new 54" ID force main, of which 9,500 linear feet will be installed using microtunneling technology. The project is one of the largest dollar awards for a microtunneling project in the continental U.S. to date.
- Work is scheduled to commence in the first quarter of 2017 and to be completed in the third quarter of 2019.
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, 2015, 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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