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Stock Market & Financial Investment News

News Breaks
December 5, 2012
09:11 EDTPRIMPrimoris receives new underground contract work for $150M
Primoris Services announced new contract work totaling approximately $150M. The new contracts and work authorizations were secured by ARB and Rockford, both part of the West Construction Services Segment of Primoris. The projects involve primarily pipeline and gas utility infrastructure projects. Work for Rockford's new contracts will begin in Q1 2013 and is slated for completion by Q3 2013. ARB Underground Group has recently obtained new pipeline and distribution related work to be completed by the end of 2013.
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March 23, 2015
07:31 EDTPRIMPrimoris announces three-year, $45M master service agreement
Primoris Services announced a new three year Master Service Agreement from a major utility customer with an anticipated value of $45M. The contract was secured by the ARB Underground division, part of the West Construction Services segment. The MSA will commence in April. The award is for gas distribution work in four regions, ranging from central California up to the Oregon border. This MSA represents incremental revenue to ARBís historic work for the client. The work covered by the agreement includes the replacement of Aldyl-A low pressure distribution mains and services and restoration of public streets, sidewalks and private property to their original condition. Primoris anticipates that the MSA will generate approximately $15M per year, and it is likely that the contract will be extended beyond the initial three years. While the agreement does not obligate the customer to award Primoris a specific dollar amount, its discussions and history with the customer form the basis for its anticipated value.

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