Primoris Services Corporation Announces New Civil Contract Work Valued at $30 Million

DALLAS--()--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new civil awards valued at $30 million. The new contracts were secured by the Infrastructure & Maintenance division of James Construction Group, a Primoris subsidiary and part of the East Construction Services segment. Work on the projects will commence in the third quarter of 2014 and is scheduled to be completed by the end of 2015.

  • The first project was awarded by a large fertilizer customer located in central Florida.
    • The purpose of the project is to bring phosphatic clay slurry into a clay settling area through flexible polyethylene discharge pipes.
    • The scope of work includes a hydraulic ditch and dam, two spillway structures, approximately 7.5 million cubic yards of fill, 19,000 linear feet of 12” HDPE drain pipe, and 210 acres of grassing.
  • The second project was awarded by a large coal mining customer located in east Texas.
    • The purpose of the project is to remove overburdened soils above a lignite seam.
    • The scope of work includes approximately 5.4 million cubic yards of overburden excavation and stockpiling.

ABOUT PRIMORIS

Founded in 1946, Primoris, through various subsidiaries, has grown to become one of the largest construction service enterprises 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, and other customers. The Company’s national footprint extends from Florida, along the Gulf Coast, through California, into the Pacific Northwest and 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, 2013, 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.

Contacts

Primoris Services Corporation
Kate Tholking, 214-740-5615
Director of Investor Relations
ktholking@prim.com

Release Summary

Primoris today announced two new civil awards valued at $30 million. The new contracts were secured by the Infrastructure & Maintenance division of James Construction Group.

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Contacts

Primoris Services Corporation
Kate Tholking, 214-740-5615
Director of Investor Relations
ktholking@prim.com