DALLAS, TX--(Marketwired - December 14, 2016) - Primoris Services Corporation (NASDAQ: PRIM) ("Primoris" or "Company") today announced a new pipeline award valued at approximately $20 million. The contract was secured by Primoris Energy Services' pipeline division, part of the Energy segment.
- The project was awarded by a major petrochemical company for work at their multi-billion dollar expansion site in Louisiana. This award is in addition to the work currently being performed by Primoris Energy Services' industrial division and James Construction Group's civil division on the same site.
- The project involves the construction of two export pipelines that will deliver from the chemicals processing facility manufactured product and discharge waste water created during manufacturing.
- Work on this project is scheduled to begin in the fourth quarter of 2016, and completion is expected in the second 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.
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, 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.