DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new industrial award valued in excess of $50 million. The contract was secured by the Industrial division of ARB, Inc., part of the West Construction Services segment.
- The award is from a large oil refining customer for a new cogeneration facility at a major refinery in Southern California. This project is designed to provide primary power to the refinery and to augment the existing steam supply system to the refinery process units.
- ARB is in a joint venture with Kansas City-based Burns & McDonnell Engineering Company, Inc. The JV will provide engineering, procurement and construction of the new cogeneration facility.
- Engineering and procurement will commence in the fourth quarter of 2015, and construction is anticipated to start in the second quarter of 2016. The project is anticipated to be complete in the third quarter of 2017.
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, 2014, 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.