Primoris Services Corporation Announces Contracts Totaling $20 Million With Two of the World's Largest Energy Companies

Primoris Services Corporation (Nasdaq:PRIM) (Nasdaq:PRIMU) (Nasdaq:PRIMW) ("Primoris" or "Company"), one of the largest specialty contractors and engineering companies in the United States, today announced that its wholly-owned subsidiary ARB, Inc. has been awarded separate contracts from two of the world's largest energy companies.  These contracts are expected to generate an aggegrate $20 million in revenues to Primoris during 2010.      

The first contract, with one of the world's largest integrated energy companies, will provide engineering, procurement and construction services required to design, supply and install selective catalyst reduction, or SCR, systems that will reduce nitrogen oxide (NOx) emissions at the client's cogeneration facilities in Southern California. Four individual SCR reactors with associated equipment and four new heat recovery steam generators are required to complete the project.  Design work is underway and construction is scheduled to commence in the summer; the project is expected to be fully operational by the end of 2010.  

The second contract, with a Fortune 500 petroleum refiner and marketer, calls for ARB to install piping, steel and other equipment, as directed, at the pre-scrubbing and sulphur dioxide (SO2) absorber areas of the client's refinery in northern California.  Construction is scheduled to commence in late February 2010 and should be completed in November of this year.

ARB, Inc., part of Primoris's Construction Services segment, is an industry leader in power-generation construction services. ARB's experience and abilities address a broad spectrum of civil, structural, mechanical, and piping services for both green field and brown field large scale power plants. Many of the company's power projects include turn-key design, procurement, and construction services.  ARB has developed niche skills in the power market that include heat-recovery steam generators and SCR installations and retrofits, burner management systems, low-NOx burner and power boiler retrofits, boiler-tube replacements and upgrades, and pressure-vessel and boiler repair. 

About Primoris

Primoris, through various subsidiaries, is one of the largest specialty contractors and engineering companies in the United States, primarily serving the growing power and energy sectors. 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 addition of the James Construction Group, Primoris has a significant presence in the Gulf States 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.primoriscorp.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, 2008 and other filings with the Securities and Exchange Commission, including the Company's Form 10-Q filed on November 12, 2009. 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,
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          Devin Sullivan, Senior Vice President
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