This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Pernix Group, Inc. Announces New Award For Transmission And Distribution Installation In The Solomon Islands

Stocks in this article: PRXG

LOMBARD, Ill., Feb. 19, 2013 (GLOBE NEWSWIRE) -- Pernix Group, Inc. (OTCBB:PRXG) announced today that the company has been awarded a mandate to install a new 33 KV underground transmission cable by the Solomon Islands Electricity Authority (SIEA). The new cable will connect the Lungga Power Station to the Ranadi Zone sub-station, covering a distance of approximately four kilometers. The scope of the project includes all civil works, 33 KV high voltage cable and fiber optic cable design and supply, cable trenches, cable installation, jointing/terminations, and testing/commissioning.

Pernix Group also announced that it had pre-qualified to bid on a 14 MW hydroelectric power project on the Tina River in the Solomon Islands to be built on a build-own-operate-transfer (BOOT) basis. Final bid deadlines for the project have not yet been announced.

Nidal Z. Zayed, CEO of Pernix Group stated that, "We are extremely excited to continue our work in addressing the growing power and infrastructure needs of the developing economies in the Pacific region. We have an excellent track record of building and operating power plants and turnkey utilities in this marketplace, and we look forward to working with the SIEA to complete this project on time and on budget. We have an excellent operating team in the region, and we expect that this is just the first of many such opportunities for Pernix Group in the region."

Pernix Group Inc. is a global company with its headquarters in Lombard, Illinois. The company is engaged in two primary business segments: construction services as a Design-Build General Contractor in the Federal and Government market; and building, managing and investing in Power Projects as an Independent Power Producer. Pernix has full-scale construction and management capabilities, with current operations in the Middle East and Africa, and operating subsidiaries in the South Pacific islands of Fiji and Vanuatu. Pernix Group, Inc. common stock is traded on the over-the-counter bulletin board (OTCBB) under the symbol PRXG. Additional information is available at www.pernixgroup.com .

Forward-Looking Statement

Certain of the statements made in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the Company's filings with the U.S. Securities and Exchange Commission.

CONTACT: Gregg Pollack
         Chief Financial Officer and VP Administration
         Pernix Group, Inc.
         Tel: (630) 620-4787
         gpollack@pernixgroup.com
         
         or
         
         Michael M. Frye
         Vice President - Power
         Pernix Group, Inc.
         Tel: (630) 620-4787
         mfrye@pernixgroup.com

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs