Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new award for a California power plant valued in excess of $200 million. The new contract was secured by the Industrial division of ARB, Inc., a Primoris subsidiary and part of the West Construction Services segment. Work is scheduled to commence in the third quarter of 2015 and to be complete in the fourth quarter of 2017.

  • The award is from a major independent power producer (“IPP”) for a 500MW natural gas-fired simple cycle power plant north of San Diego, CA.
  • ARB is the lead in a joint venture with Kansas City-based Burns & McDonnell Engineering Company, Inc. The JV will provide engineering, procurement, construction, start-up and commissioning services for this repowering project.
  • The three existing steam boiler units 1, 2, and 3 of the adjacent power plant will be retired upon successful commercial operation of the new facility.

ABOUT PRIMORIS

Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the largest construction service enterprises in the United States. Serving diverse end markets, Primoris provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, and other customers. The Company's national footprint extends from Florida, along the Gulf Coast, through California, into the Pacific Northwest and Canada. For additional information, please visit www.prim.com.

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," “may,” and "future" or similar expressions are intended to identify forward-looking statements. Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, 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 period ended December 31, 2013, and other filings with the Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on forward-looking statements. 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.