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Primoris Services Corporation Announces New Heavy Civil Award Valued at $18 Million

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Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new heavy civil award valued at $18 million. The contract was secured by the Primoris James Construction Group, part of the East Construction Services segment. Work is scheduled to commence on the project in the fourth quarter of 2014 and is scheduled to be completed by the end of 2016.

  • The project was awarded by the Texas Department of Transportation and is located outside Houston, Texas.
  • The project is for the reconstruction and widening of 2.8 miles of a two lane roadway to a four lane roadway with a center left turn lane for both directions.
  • The scope of work includes 115,000 square yards of subgrade and base material, 108,000 square yards of 10″ continuous reinforced concrete paving, 10,284 square yards of 13″ fast track paving, 27,000 linear feet of storm drainage, and 16,710 linear feet of precast temporary barriers.

ABOUT PRIMORIS

Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the largest construction service enterprises 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. The Company’s national footprint 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 known and unknown risks, uncertainties, and other factors, 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 period ended December 31, 2013, and other filings with the Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on forward-looking statement. 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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