LAKE FOREST, Calif., Feb. 23, 2009 (GLOBE NEWSWIRE) -- Primoris Services Corporation (Nasdaq:PRIM) (Nasdaq:PRIMU) (Nasdaq:PRIMW) ("Primoris" or "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 two Short Notice Alliance Contract Extensions from a large southern California utility.
The utility is currently performing an internal survey of its existing natural gas pipeline network. Under these contracts, ARB will be responsible for making any necessary repairs to these natural gas pipelines. ARB has worked under these short notice contracts for the past two years, and each is being extended through May 2011. The combined annual volume under these two contracts is estimated at approximately $10 million.
Brian Pratt, Chairman, President and CEO of Primoris, commented, "For more then 60 years, ARB has been an industry leader in underground pipeline installation, maintenance, replacement, and rehabilitation. We are grateful for the continued confidence this customer has shown in our abilities, and we look forward to continuing to support California's growing energy demands."
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. 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.
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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 the Company's Registration Statement on Form S-4, as amended (File No. 333-150343), and other filings with the SEC, including the Company's Form 10-Q which was filed on November 14, 2008. 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.