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CST: 16/09/2019 07:39:16   

Primoris Services Corporation Announces Pipeline Award Valued Over $29 Million

89 Days ago

DALLAS, June 19, 2019 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new pipeline award valued over $29 million.  The contract was secured by Vadnais Trenchless, part of the Pipeline & Underground segment. 

  • The award is for a microtunneling project to upgrade a water pipeline in central Oklahoma and was awarded by the Oklahoma City Water Utilities Trust.
  • The project involves two deep access shafts, approximately 30 feet in diameter and 140 feet deep, with four separate large diameter tunnels totaling over 5,500 linear feet crossing beneath the Canadian River.
  • Work is scheduled to commence in the third quarter of 2019 and to be completed in the first quarter of 2021.

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, 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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