Primoris Services Corporation Announces Modularization Award Valued Over $10 Million
DALLAS, June 26, 2018 (GLOBE NEWSWIRE) -- Primoris Services Corporation(NASDAQ Global Select:PRIM) (“Primoris” or “Company”) today announced a new engineering and modularization award valued over $10 million. The contract was secured by Primoris’ OnQuest, part of the Power, Industrial, and Engineering segment.
- The award is for the modularization of radiant cells for a heater package for a new polypropylene facility in Canada. OnQuest has completed the engineering of four fired heaters for the facility and earlier this year was released to proceed with the procurement of the heaters.
- The additional award for modularization encompass pre-assembly of the radiant floor, wall panels, roof, coil, ladders, platforms, burners and associated fuel gas piping for eight radiant cells for the propane dehydrogenation (“PDH”) heater package.
- Work is scheduled to commence in the third quarter of 2018, and OnQuest expects to complete its phase of the project in the third quarter of 2019.
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, 2017, 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.
Company Contact
Kate Tholking
Director of Investor Relations
(214) 740-5615
ktholking@prim.com
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