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Primoris Services Corporation Announces Pipeline Awards Valued Over $81 Million

800 Days ago

DALLAS, April 16, 2019 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced three new pipeline awards with a combined value of over $81 million. The contracts were secured by Rockford Corporation and Primoris Pipeline, both a part of the Pipeline & Underground segment.

  • Rockford was awarded two projects.  The first award is for the construction of approximately 20 miles of 42” natural gas pipeline in eastern Texas.  The second award is for the construction of approximately 16 miles of natural gas gathering pipelines, ranging in size from 10” to 16”, in northeastern Pennsylvania.

  • Primoris Pipeline was awarded one spread of a natural gas liquids (“NGL”) line in West Texas. The award is for the construction of over 34 miles of 20” pipeline to transport NGLs from an existing hub to a newly constructed transportation line moving product out of the Permian Basin.

  • Work for the awards is scheduled to commence in the second quarter of 2019 and to be completed by the fourth quarter of 2019.

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.

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


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