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.
South Bay Medical Center, located in Harbor City, CA, is a state-of-the-art health care facility providing a comprehensive range of medical and surgical services.
Brian Pratt, Chairman, President and CEO of Primoris, commented, "Kaiser has been a long-time customer of ARB, and we appreciate their continued confidence in our abilities. We are honored to assist South Bay Medical Center in both expanding its facilities and supporting its mission of providing quality health care."
ARB Structures, Inc., part of Primoris's Construction Services segment, is an industry leader in long-span, cast-in-place concrete parking structures using both design/build and traditional bid approaches. ARB Structures' proprietary aluminum beam form system cycles in half the time of traditional steel form system, yielding double production with the addition of a single form set. ARB Structures pioneered sustainable parking structure construction, achieving the first LEED-certified parking garage in the country.
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.