SOURCE: Primoris Services Corporation

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June 02, 2016 07:30 ET

Primoris Services Corporation Announces Pipeline Construction Award Valued at $15 Million

DALLAS, TX--(Marketwired - June 02, 2016) -  Primoris Services Corporation (NASDAQ: PRIM) ("Primoris" or "Company") today announced a new pipeline construction award valued at approximately $15 million with a major energy infrastructure company. The contract was secured by Primoris Energy Services' pipeline division, part of the Energy segment.

  • The award is for the removal and replacement of an existing pipeline in central North Carolina.
  • The project consists of removing and replacing 1.6 miles of 30" and 36" natural gas pipe, removing and replacing fourteen mainline valves, and automating seventeen mainline valves. Primoris Pipeline will also hydro-test 20.5 miles of 30" pipeline after the pipeline replacement is completed.
  • Construction is scheduled to begin in the second quarter of 2016 and planned completion is in the fourth quarter of 2016.

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, 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.

Contact Information

  • Company Contact
    Kate Tholking
    Director of Investor Relations
    (214) 740-5615
    ktholking@prim.com