Pernix Group, Inc. To Acquire KBR Building Group

LOMBARD, Ill., June 10, 2015 (GLOBE NEWSWIRE) -- Pernix Group, Inc. (OTCQB:PRXG), a construction company recognized by Engineering News Record for being one of the Top 50 American Contractors working abroad for the last four years in a row, today announced that it has entered into a purchase agreement to acquire KBR Building Group. This acquisition will expand Pernix's commercial domestic operations and grow its international business.

The addition of personnel, resources, proven past experience and successful past performance in the advanced manufacturing, industrial, life sciences, research & development, food & beverage, commercial, mixed-use and institutional markets will serve to expand Pernix's domestic offerings. Pernix will further leverage the KBR Building Group's experience to expand its commercial market offerings internationally.

CEO & President of Pernix, Nidal Z. Zayed stated "Our mission has always been to safely deliver complex projects worldwide for the most discriminating customers while consistently exceeding all their expectations, the addition of KBR Building Group's expertise to our growing portfolio will serve to not only improve our domestic offerings, but also allow us to leverage that expertise for a growing number of clients worldwide." He went on to say, "The addition of KBR Building Group's experienced and innovative team, and portfolio focused on sustainable design and construction adds tremendous value to Pernix, and evidences our continued commitment to delivering excellence in everything we do and build."

Mr. Zayed continued by saying "This is an exciting time for our team, for twenty years one of our main focal points has been growing our Federal Government construction work abroad, the addition of KBR Building Group creates a new Center of Excellence for private sector business – one that Pernix will leverage worldwide, putting us on a strategic growth trajectory for not only Federal Government, but also the commercial and industrial markets, and will also serve as a medium to continue growing Pernix's power market."