Primoris Services Corporation Announces $107 Million Texas Highway Contract
June 08 2010 - 9:00AM
Primoris Services Corporation (Nasdaq:PRIM)
(Nasdaq:PRIMW) ("Primoris") today announced that its wholly-owned
subsidiary, James Construction Group, LLC ("James"), was awarded a
contract valued at approximately $107 million by the Texas
Department of Transportation for its I-35 highway construction
project located in central Texas. Primoris expects work on the
project to commence in July 2010 and be completed in approximately
three years.
The scope of the project entails work on a 13.5 mile stretch of
I-35 linking Waco and Austin, consisting of widening and replacing
the roadway with new concrete paving, as well as constructing seven
bridges over I-35, the Lampassas River, and the NW Connector. The
project is located in close proximity to a James regional office in
Belton,Texas.
About Primoris
Primoris, through various subsidiaries, is 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 and replacement services,
as well as engineering services to major public utilities,
petrochemical companies, energy companies, municipalities and other
customers. With the recent acquisition of James Construction Group,
Primoris has a significant presence in the Gulf States region where
it provides heavy civil construction services. Primoris is
also a leading water and wastewater contractor in the state of
Florida, and a specialist in designing and constructing complex
commercial and industrial concrete structures in California. For
additional information on Primoris, please visit www.prim.com.
The Primoris Services Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5527
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," and
"future" or similar expressions are intended to identify
forward-looking statements. Forward-looking statements
inherently involve risks and uncertainties, 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 year ended December 31, 2009 and
other filings with the Securities and Exchange Commission,
including the Company's Form 10-Q filed on May 10,
2010. 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.
CONTACT: Primoris Services Corporation
Peter J. Moerbeek, Executive Vice President, Chief
Financial Officer
(949) 454-7121
pmoerbeek@prim.com
The Equity Group Inc.
Devin Sullivan, Senior Vice President
(212) 836-9608
dsullivan@equityny.com
Gerrard Lobo, Senior Account Executive
(212) 836-9610
globo@equityny.com
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