SOURCE: Primoris Services Corporation

Primoris Services Corporation

February 23, 2017 09:41 ET

UPDATE - Primoris Services Corporation Announces Utilities and Distribution Awards Valued at Over $74 Million

DALLAS, TX--(Marketwired - February 23, 2017) - Primoris Services Corporation (NASDAQ: PRIM) ("Primoris" or "Company") today announced three new utilities and distribution awards with a combined value of over $74 million. The contracts were secured by the underground division of ARB, Inc., part of the West Construction Services segment.

  • The projects were awarded by a California utility customer and are located in Southern California.
  • The largest of the three awards is for approximately 17 miles of trench excavation, conduit and vault installations, and backfill within city streets for the installation of a 230kV electric transmission system. The two smaller awards involve trenching and conduit installation for electric distribution.
  • Work is scheduled to commence in the first quarter of 2017 and to be completed in the first quarter of 2018.

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.

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Contact Information

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