Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced new underground awards valued at $218 million. The contracts were secured by Rockford Corporation, part of the West Construction Services segment. These awards were signed in the first quarter of 2015 and will therefore be included in the first quarter backlog calculation.

  • The larger of the two contracts is for a natural gas pipeline located in central Florida. The project consists of 77 miles of 36” diameter pipeline and 49 miles of 30” diameter pipelines for a total 126 miles of natural gas pipeline.
    • Some of the project characteristics include marsh work that will require a large amount of concrete coated pipe or pipe set on concrete weights, as well as sheet piling and dewatering. There are a total of 9 directional drills under canals, lakes, and Interstates. The project is scheduled to begin in the second quarter of 2016 and to be ready for service by the third quarter of 2017.
  • The smaller project is for a natural gas pipeline in Susquehanna County, Pennsylvania. The project consists of 1.87 miles of 24” diameter pipeline and 2.54 miles of 12” diameter pipeline for a total of 4.4 miles of natural gas pipeline. Construction began in the first quarter of 2015, and the pipeline is scheduled to be ready for service by the third quarter of 2015.

ABOUT PRIMORIS

Founded in 1960, Primoris, through various subsidiaries, has grown to become one of the largest publicly traded specialty construction and infrastructure companies 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, state departments of transportation, and other customers. Growing both organically and through acquisitions, the Company’s national footprint now extends nearly nationwide and into 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, 2014, 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.