LAKE FOREST, Calif., Feb. 9, 2010 (GLOBE NEWSWIRE) -- Primoris Services Corporation (Nasdaq:PRIM) (Nasdaq:PRIMW) (Nasdaq:PRIMU) ("Primoris" or the "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 a contract by the Walsh Austin Joint Venture (a joint venture between The Walsh Group and Austin Commercial) for civil and site preparation work on the Bradley West International Terminal expansion at the Los Angeles International Airport. Work on the project, also referred to as Concourse Construction Package 1, is scheduled to begin in February 2010 and is expected to be completed in or around September 2010. The initial contract is expected to generate revenues of approximately $15.2 million to Primoris. In addition, the owner has issued a change order request that is currently being negotiated and that is expected to add more than $5 million to the contract value.
As a part of Concourse Construction Package 1, ARB Underground will conduct the initial demolition and utility relocation work required in preparation for the next phase of construction for the new airport terminal concourse. ARB Underground will perform these duties in accordance with Los Angeles World Airports' sustainability requirements and will utilize the appropriate technologies and strategies to achieve a U.S. Green Building Council (USGBC) Leadership in Energy and Environmental Design (LEED®) New Construction (NC) version 2.2 certification standard of at least Silver.
The LEED-NC version 2.2 Silver Certification ensures that a project has achieved 33 to 38 certification points which address environmentally conscious issues such as site sustainability, water efficiency, energy and atmosphere, materials and resources, indoor environmental quality, and innovation and design process.
ARB Underground, part of Primoris's Construction Services segment, installs, replaces, repairs and maintains pipelines for transmission and distribution, water and sewer, oil and gas, petrochemical, and power & communications structures. ARB Underground's crews have extensive experience in all types of working environments including highly congested urban, suburban, and residential areas, and rural cross-country locations.
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. With the addition of the James Construction Group, Primoris has a significant presence in the Gulf States where it provides heavy civil construction services. 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.globenewswire.com/newsroom/ctr%3Fd=178782%26amp;l=13%26amp;a=www.primoriscorp.com%26amp;u=http%253A%252F%252Fwww.primoriscorp.com" target="_top" rel="nofollow">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 our Annual Report on Form 10-K for the year ended December 31, 2008 and other filings with the Securities and Exchange Commission, including the Company's Form 10-Q filed on November 12, 2009. 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.