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Primoris Services Corporation Announces Engineering Awards Valued Over $34 Million

DALLAS, Dec. 06, 2019 (GLOBE NEWSWIRE) -- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new engineering awards with a combined value over $34 million.  The contracts were secured by OnQuest, part of the Power, Industrial, & Engineering segment. 

  • The first award is for engineering and procurement of four world-class arbor type heaters as part of a grass-root Propylene Dehydration Project in Alberta, Canada.  In addition to the heaters, OnQuest will be designing and supplying the integrated Burner Management System for the heaters.

  • The second award is for engineering, procurement and fabrication to retube two crude heaters, including replacement convection modules, and retube the CCR heater located in an existing refinery in Illinois.

  • Work is scheduled to commence in the fourth quarter of 2019 and to be completed in the fourth quarter of 2020.

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, 2018, 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
Vice President, Investor Relations
(214) 740-5615
ktholking@prim.com