Matrix NAC Awarded Aboveground Electrical Balance of Plant for PSEG Power’s New 540-MW Combined Cycle Power Plant
April 04 2017 - 7:30AM
Matrix Service Company (Nasdaq:MTRX)
announced today that PSEG Power has awarded Matrix NAC the balance
of plant aboveground electrical construction work at PSEG’s new
540-megawatt combined cycle power facility, Sewaren 7, in
Woodbridge, New Jersey.
“We take great pride in our long-standing relationship with
PSEG, which reaches back some 70 years, and value the trust they
have in our ability to meet their exacting standards of safety and
quality,” said John R. Hewitt, CEO of Matrix Service Company. "This
significant project award is also meaningful from a strategic
perspective as we continue to provide critical construction
services in the power generation segment.”
The project was awarded in December 2016 with plans for the
facility to come online by summer 2018.
Sewaren 7 will replace older generating units with cleaner, more
efficient technology, bringing greater reliability and
environmentally responsible energy to New Jersey.
About Matrix Service Company
Founded in 1984, Matrix Service Company is parent to a family of
companies that include Matrix Service, Matrix NAC, Matrix PDM
Engineering and Matrix Applied Technologies. Our subsidiaries
design, build and maintain infrastructure critical to North
America’s energy, power and industrial markets. Matrix Service
Company is headquartered in Tulsa, Oklahoma with subsidiary offices
located throughout the United States and Canada, as well as Sydney,
Australia and Seoul, South Korea.
The Company reports its financial results based on
four key operating segments: Electrical Infrastructure, Storage
Solutions, Oil Gas & Chemical and Industrial. To learn more
about Matrix Service Company, visit matrixservicecompany.com
This release contains forward-looking statements that are made
in reliance upon the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
generally accompanied by words such as “anticipate,” “continues,”
“expect,” “forecast,” “outlook,” “believe,” “estimate,” “should”
and “will” and words of similar effect that convey future meaning,
concerning the Company’s operations, economic performance and
management’s best judgment as to what may occur in the future.
Future events involve risks and uncertainties that may cause actual
results to differ materially from those we currently anticipate.
The actual results for the current and future periods and other
corporate developments will depend upon a number of economic,
competitive and other influences, including those factors discussed
in the “Risk Factors” and “Forward Looking Statements” sections and
elsewhere in the Company’s reports and filings made from time to
time with the Securities and Exchange Commission. Many of these
risks and uncertainties are beyond the control of the Company, and
any one of which, or a combination of which, could materially and
adversely affect the results of the Company's operations and its
financial condition. We undertake no obligation to update
information contained in this release.
For more information, please contact:
Matrix Service Company
Kevin S. Cavanah
Vice President and CFO
+1-918-838-8822
Email:kcavanah@matrixservicecompany.com
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