LAKE FOREST, Calif., Oct. 16, 2008 (GLOBE NEWSWIRE) -- Primoris Services Corporation (Nasdaq:PRIM) (Nasdaq:PRIMU) (Nasdaq:PRIMW) ("Primoris"), one of the largest specialty contractors and engineering companies in the Western United States, today announced that it has signed a contract with a large public utility for the installation of approximately 22 miles of 24 inch gas transmission mainline in Brawley, California. The gas transmission mainline to be installed by Primoris will expand the public utility's existing storage system capacity to handle any additional load from future facilities. This contract, scheduled to commence in November 2008 and be completed by May 2009, is expected to generate approximately $20 million in revenue to Primoris.
Scott Summers, President of Primoris's operating subsidiary said, "Our Underground group has been providing ongoing pipeline and distribution construction services to this client for over 50 years, and we are pleased to expand our relationship with this client through this project which will provide a sizeable increase in storage capacity to the client's existing system. Primoris's track record of execution on such projects has enabled us to meet the growing energy needs of the state of California."
About Primoris
Primoris, through various subsidiaries, is one of the largest specialty contractors and engineering companies in the Western 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.
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Forward-Looking Statements
This press release contains certain forward-looking statements, including with regard to Primoris'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 Primoris's filings with the Securities and Exchange Commission. 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.