This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Primoris Services Corporation Announces New Contracts Valued At Approximately $89 Million

DALLAS, Jan. 25, 2011 (GLOBE NEWSWIRE) -- Primoris Services Corporation (Nasdaq:PRIM) ("Primoris" or "Company") today announced that its wholly-owned subsidiary, James Construction Group, LLC, has been awarded five contracts valued at approximately $89 million for new work in Louisiana and Texas. The contracts involve highway infrastructure construction and projects related to the construction of industrial gas production facilities. 

The first of the highway contracts, valued at approximately $26 million, is for the new I-49 Section F near Shreveport, Louisiana. This is the fourth I-49 project awarded to James over the last twelve months. The work scope, which includes 51,000 cubic yards of concrete paving, 2 million cubic yards of earthwork, and 3 new bridges, should commence in the second quarter of 2011 and be completed over the next two years.   

The second highway contract, valued at approximately $39 million, was secured through the James Heavy Civil Division in Belton, Texas and relates to the Williamson County State Highway (SH) 195 Project. This project's work scope includes 10 new bridges, 3 million cubic yards of earthwork, and 196,696 tons of asphalt pavement. The contract work will start in the first quarter of 2011 and is scheduled for completion in late 2013.  

The James Houston Region, formerly known as Cravens Services, secured the third highway contract. Valued at approximately $9 million, this contract involves the reconstruction and improvement of Callaghan Road for the City of San Antonio, Texas. The project will commence in the first quarter of 2011 and is scheduled for completion in late 2012.

The James Industrial Division was also awarded two separate contracts for projects related to the construction of industrial gas production plants in Louisiana and Texas. These contracts have a combined value of approximately $15 million.   The first contract involves work for a new hydrogen plant near Luling, Louisiana. The work scope, consisting of concrete foundations, underground firewater lines, underground sewer lines, and underground electrical duct banks, should be completed by the end of 2011. The second contract, also expected to be completed by the end of 2011, involves the construction of a new air separation plant near La Porte, Texas. The work scope includes 172 tons of structural steel, over 12,000 linear feet of process piping, and the erection/setting of the major process equipment.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.01 0.00%
FB $99.75 0.00%
GOOG $682.74 0.00%
TSLA $147.99 0.00%
YHOO $27.05 0.00%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs