Primoris Services Corp Wrts (MM) (NASDAQ:PRIMW)
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From Jun 2019 to Jun 2024
Primoris Services Corporation (NasdaqGM: PRIM; PRIMU; PRIMW) (“Primoris”),
one of the largest specialty contractors and engineering companies in
the Western United States, today announced that it has signed a contract
with one of the country’s largest combination
natural gas and electric utilities for a compressor station upgrade in
Northern California. The contract will generate revenue to Primoris of
approximately $54 million. Under the terms of the contract, the work
will include the demolition of certain existing equipment and facilities
and the engineering, procurement, construction (“EPC”)
and commissioning of two new variable frequency drive/electric motor
(VFD/EM)-driven compressors. Primoris will also perform various station
upgrades to improve the operability of the compressor station.
Procurement of major equipment and engineering will start immediately,
with construction scheduled to commence in October 2009. Construction is
expected to have a duration of approximately 16 months.
Tim Healy, President of Primoris’s operating
subsidiary, said, "We are currently providing ongoing power plant and
pipeline construction services to this client, and are pleased to be
able to broaden our relationship by providing EPC services for a natural
gas compressor retro-fit project. We remain an active participant in
helping California’s utilities meet the state’s
growing and increasingly complex energy needs.”
About Primoris Services Corporation
Primoris Services Corporation, through various subsidiaries, is one of
the largest specialty contractors and engineering companies in the
Western 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. 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.
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 the Registration Statement, the Amendment
and other filings with the SEC. Primoris Services Corporation 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.