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CST: 20/08/2019 17:32:44   

Primoris Services Corporation Announces Natural Gas Distribution Awards Valued Over $25 Million

119 Days ago

DALLAS, April 23, 2019 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced three new contracts for major utility customers with a combined value of over $25 million. The contracts were secured by ARB Underground, part of the Utilities & Distribution segment. 

  • The first award is for a pipeline modernization project in Southern California.  The basic scope of work is to relocate the interconnects between four natural gas transmission lines that are currently in the center of a major intersection. Work is scheduled to commence in the second quarter of 2019 and estimated completion is the first quarter of 2020.
  • The second award is a meter protection project in Northern California.  The work involves installation of steel posts in front of existing meters at over 7,000 locations to protect the meters from damage by vehicles. Work is scheduled to commence in the second quarter of 2019 and estimated completion is the fourth quarter of 2019.
  • The third award is the installation of underground electrical approaches to a new substation in Southern California.  The scope of work includes three 41” bore casings under an existing railroad, installing over 36,000 feet of conduit, and trenching and backfill for the conduit. Work is scheduled to commence in the second quarter of 2019 and estimated completion is the fourth 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.

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, 2018, 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
Vice President, Investor Relations
(214) 740-5615
ktholking@prim.com

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