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Primoris Services Corporation Announces Parking Structure Award Valued at $30 Million

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Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new parking structure award valued at $30 million. The contract was secured by ARB Structures, part of the West Construction Services segment, and is the third parking structure project for this Southern California customer. The project is scheduled to begin in the second quarter of 2015 and is anticipated to be completed in the third quarter of 2016.

  • The award is for a new 588,566 square foot above ground parking structure in The Spectrum Center area of Irvine, California. The new parking structure will provide over 1,635 new parking spaces.
  • This project includes site clearing and demolition, boxing and relocation of numerous specimen trees, grading, and site improvements including architectural paving and extensive landscaping. In addition, the project includes the replacement of an existing cooling tower that services an existing building adjacent to the site.

ABOUT PRIMORIS

Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the largest publicly traded specialty construction and infrastructure companies 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, state departments of transportation, and other customers. Growing both organically and through acquisitions, the Company’s national footprint now extends nearly nationwide and into 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, 2014, and other filings with the Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on forward-looking statements. 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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