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Nov 20, 2017

Primoris Services Corporation Announces Industrial Award Valued at Over $27 Million

DALLAS, Nov. 20, 2017 (GLOBE NEWSWIRE) -- Primoris Services Corporation(NASDAQ:PRIM) ("Primoris" or "Company") today announced a new industrial award valued at over $27 million.  The contract was secured by ARB Industrial, part of the Power, Industrial, & Engineering segment. 

  • The project was awarded by a refiner and is located in Southern California.  The project is part of a plan to reduce emissions and increase efficiency at the existing facilities.

  • ARB's scope of work from this award includes mechanical, electrical, and instrumentation work.  This is in addition to contracts previously awarded to ARB involving civil work, horizontal directional drilling, interconnecting pipe lines, and installation of pigging and metering equipment for the project.

  • Work for this award is scheduled to commence in the fourth quarter of 2017 and is expected to be completed in the fourth quarter of 2018.

ABOUT PRIMORIS
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.

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, 2016, 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.

Company Contact                                                                                              
Kate Tholking
Director of Investor Relations
(214) 740-5615
ktholking@prim.com

Source: Primoris Services Corporation

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