Primoris Services Corporation Announces Heavy Civil Awards Valued at $44 Million

DALLAS--(BUSINESS WIRE)-- Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new heavy civil awards with a combined value of approximately $44 million. The contracts were secured by James Construction Group, part of the East Construction Services segment.

• The first award is for airport apron construction activities at a large airport in Texas. The work encompasses the reconstruction of approximately 24 acres of terminal apron, including existing pavement demolition, earthwork activities, installation of a storm drainage & fire water loop systems, and construction of sub-base layers with a 17.5” concrete pavement surface. Construction is scheduled to start in the first quarter of 2016 and is expected to be completed in the first quarter of 2017.
• The second award is for the construction of an elevated roadway at a large airport in Louisiana. The work involves constructing a 2,200+ linear foot bridge that will service the Departure area to the proposed North Terminal, including the installation of 950 precast concrete pile, the erection of 390 Type II concrete girders, and installation of the associated concrete structures. Construction is scheduled to start in the third quarter of 2016 and is expected to be completed in the fourth quarter of 2017.

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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160229005636/en/

Primoris Services Corporation
Kate Tholking, 214-740-5615
Director of Investor Relations
[email protected]

Source: Primoris Services Corporation

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