Primoris Services Corporation Announces Contract for Terminal Expansion at Los Angeles International Airport
09 Febbraio 2010 - 6:55AM
Primoris Services Corporation (Nasdaq:PRIM) (Nasdaq:PRIMW)
(Nasdaq:PRIMU) ("Primoris" or the "Company"), one of the largest
specialty contractors and engineering companies in the United
States, today announced that its wholly-owned subsidiary, ARB,
Inc., has been awarded a contract by the Walsh Austin Joint Venture
(a joint venture between The Walsh Group and Austin Commercial) for
civil and site preparation work on the Bradley West International
Terminal expansion at the Los Angeles International
Airport. Work on the project, also referred to as Concourse
Construction Package 1, is scheduled to begin in February 2010 and
is expected to be completed in or around September 2010. The
initial contract is expected to generate revenues of approximately
$15.2 million to Primoris. In addition, the owner has issued a
change order request that is currently being negotiated and that is
expected to add more than $5 million to the contract value.
As a part of Concourse Construction Package 1, ARB Underground
will conduct the initial demolition and utility relocation work
required in preparation for the next phase of construction for the
new airport terminal concourse. ARB Underground will perform
these duties in accordance with Los Angeles World Airports'
sustainability requirements and will utilize the appropriate
technologies and strategies to achieve a U.S. Green Building
Council (USGBC) Leadership in Energy and Environmental Design
(LEED®) New Construction (NC) version 2.2 certification
standard of at least Silver.
The LEED-NC version 2.2 Silver Certification ensures that a
project has achieved 33 to 38 certification points which address
environmentally conscious issues such as site sustainability, water
efficiency, energy and atmosphere, materials and resources, indoor
environmental quality, and innovation and design process.
ARB Underground, part of Primoris's Construction Services
segment, installs, replaces, repairs and maintains pipelines for
transmission and distribution, water and sewer, oil and gas,
petrochemical, and power & communications structures. ARB
Underground's crews have extensive experience in all types of
working environments including highly congested urban, suburban,
and residential areas, and rural cross-country locations.
About Primoris
Primoris, through various subsidiaries, is one of the largest
specialty contractors and engineering companies in the 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. With the addition of
the James Construction Group, Primoris has a significant presence
in the Gulf States 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.primoriscorp.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, 2008 and other filings
with the Securities and Exchange Commission, including the
Company's Form 10-Q filed on November 12, 2009. 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@primoriscorp.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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