Primoris Services Corporation Announces New Contract Work Valued at over $80 Million
Primoris Services Corporation (NASDAQ Global Select: PRIM)
(“Primoris” or “Company”) today announced a major new contract award
secured by Q3 Contracting, part of the West Construction Services
segment of Primoris. The new award will result in a net revenue increase
of over $80 million over the next three years.
Q3 Contracting was awarded a new three year contract by Xcel Energy. The
unit priced blanket contract covers gas distribution work in the Denver
area. The work performed under this new contract is similar to work Q3C
has done for Xcel Energy in the past, but the new award significantly
increases the level of the work to be done. The contract adds
approximately $27 million per year for the three year term and includes
an option for an additional two years. The work will begin immediately.
ABOUT PRIMORIS
Founded in 1946, Primoris, through various subsidiaries, has grown to
become one of the largest specialty contractors 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, and other customers. Since December 2009, Primoris has
tripled its revenue and the Company’s national footprint now 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 risks and uncertainties,
including without limitation, those detailed in the "Risk Factors"
section and other portions of our Annual Report on Form 10-K, our Form
10-Q, and other filings with the Securities and Exchange Commission.
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.
<div class="copyright">
Copyright Business Wire 2013
</div>