latest news releases from the newsroom
Pacific Ethanol, Inc.
Pacific Ethanol Announces Forbearance Agreements Extended With Lenders; Operations At Two Production Facilities Suspended
SACRAMENTO, Calif., Feb. 27, 2009 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (Nasdaq:PEIX) announced today that the forbearance agreements with its lenders have been extended as the Company continues attempts to negotiate new loan terms. These agreements provide that the Company's lenders will refrain from exercising their rights and remedies through March 31, 2009, in respect of certain loan covenant defaults. Negotiations are ongoing with the Company's lenders, namely Wachovia Capital Finance Corporation (Western), with respect to its operating line of credit for Kinergy Marketing, WestLB AG and the other lenders under the Credit Agreement dated February 27, 2007 with respect to its term loans and working capital lines of credit for its wholly-owned ethanol production facilities, and Lyles United, LLC with respect to outstanding loans.
Primoris Services Corporation
Primoris Services Corporation Announces $13.1 Million Parking Structure Contract
LAKE FOREST, Calif., Feb. 27, 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 Structures, Inc., has signed an agreement with Kaiser Foundation Hospitals ("Kaiser") to design and build a concrete parking structure at Kaiser's South Bay Medical Center. Work on the 766-space, 5-level structure is scheduled to commence in March and is expected to be completed by the end of 2009. The project is estimated to generate revenues of approximately $13.1 million to Primoris.