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PRIMU Primoris Services - Units (MM)

7.6144
0.00 (0.00%)
Pre Market
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Primoris Services - Units (MM) NASDAQ:PRIMU NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 7.6144 0 00:00:00

Primoris Services Corporation Announces $107 Million Texas Highway Contract

08/06/2010 2:00pm

GlobeNewswire Inc.


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Primoris Services Corporation (Nasdaq:PRIM) (Nasdaq:PRIMW) ("Primoris") today announced that its wholly-owned subsidiary, James Construction Group, LLC ("James"), was awarded a contract valued at approximately $107 million by the Texas Department of Transportation for its I-35 highway construction project located in central Texas. Primoris expects work on the project to commence in July 2010 and be completed in approximately three years.

The scope of the project entails work on a 13.5 mile stretch of I-35 linking Waco and Austin, consisting of widening and replacing the roadway with new concrete paving, as well as constructing seven bridges over I-35, the Lampassas River, and the NW Connector. The project is located in close proximity to a James regional office in Belton,Texas.

About Primoris

Primoris, through various subsidiaries, is one of the largest specialty contractors and infrastructure companies in the United States. Serving diverse end markets, Primoris provides a wide range of construction, fabrication, maintenance and replacement services, as well as engineering services to major public utilities, petrochemical companies, energy companies, municipalities and other customers. With the recent acquisition of James Construction Group, Primoris has a significant presence in the Gulf States region where it provides heavy civil construction services. Primoris is also a leading water and wastewater contractor in the state of Florida, and a specialist in designing and constructing complex commercial and industrial concrete structures in California. For additional information on Primoris, please visit www.prim.com.

The Primoris Services Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5527

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," and "future" or similar expressions are intended to identify forward-looking statements. Forward-looking statements inherently involve risks and uncertainties, 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 year ended December 31, 2009 and other filings with the Securities and Exchange Commission, including the Company's Form 10-Q filed on May 10, 2010. 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.

CONTACT:  Primoris Services Corporation
          Peter J. Moerbeek, Executive Vice President, Chief
           Financial Officer
          (949) 454-7121
          pmoerbeek@prim.com 

          The Equity Group Inc. 
          Devin Sullivan, Senior Vice President
            (212) 836-9608
            dsullivan@equityny.com
          Gerrard Lobo, Senior Account Executive
            (212) 836-9610
            globo@equityny.com

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