Primoris Services Corporation Signs Contract To Install Underground Crude Oil Pipeline
LAKE FOREST, Calif.--(BUSINESS WIRE)--Primoris Services Corporation (NasdaqGM: PRIM; PRIMU; PRIMW) ("Primoris"), one of the largest specialty contractors and engineering companies in the Western United States, today announced that it has signed a contract to install approximately 15,000 feet of underground pipeline. Once completed, the pipeline will transport crude oil from Long Beach to a refinery located in Carson, California. This contract, which is scheduled to be completed by April 2009, is expected to generate approximately $11.8 million in revenue to Primoris.
Brian Pratt, Primoris's Chairman, President, and CEO said, "This project reflects the type of work performed by our Underground Group, which has been a cornerstone of Primoris's operations for over 60 years."
About Primoris
Primoris, through various subsidiaries, is one of the largest specialty contractors and engineering companies in the Western United States, primarily serving the growing power and energy sectors. 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. 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.
Forward-Looking Statements
This press release contains certain forward-looking statements, including with regard to Primoris'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 Primoris's 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.
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