Press Release

TULSA, Okla., Jan. 18, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that The Chemours Company (Chemours) has awarded Matrix PDM Engineering the Front-End Engineering Design (FEED) and detail design engineering for an industrial project at its Washington Works, West Virginia facility. The project is the first to be awarded under a recently signed Master Service Agreement.

“We are pleased to have selected Matrix PDM Engineering for this critical project work,” said Mark A. Cotugno, Global Procurement Director, Enterprise Capital for Chemours. “Their strong team, well-aligned execution plan, and common core values were key to their selection.”

Products produced at Chemours Washington Works facility — the company’s largest Advanced Performance Materials manufacturing site — support the continued safety and growth of the construction, semiconductor, automotive, aerospace, and household goods industries, among others.

“We look forward to partnering with The Chemours Company on this important project and appreciate the trust and confidence they have placed in us to perform the upfront and detailed engineering required for this project,” said Matrix Service Company President and Chief Executive Officer, John R Hewitt. “We look forward to doing so, and to building a long-standing relationship to provide service at Washington Works and elsewhere across their portfolio of assets.”

About Matrix Service Company

Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is a leading North American industrial engineering, construction, and maintenance contractor headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.

The Company reports its financial results in three key operating segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

With a focus on sustainability, building strong Environment, Social and Governance (ESG) practices, and living our core values, Matrix ranks among the Top Contractors by Engineering-News Record, has been recognized for its Board diversification, is an active signatory to CEO Action for Diversity and Inclusion, and is recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit www.matrixservicecompany.com and read our inaugural Sustainability Report.

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This release contains forward-looking statements that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are generally accompanied by words such as “anticipate,” “continues,” “expect,” “forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey future meaning, concerning the Company’s operations, economic performance and management’s best judgment as to what may occur in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. The actual results for the current and future periods and other corporate developments will depend upon a number of economic, competitive and other influences, including those factors discussed in the “Risk Factors” and “Forward Looking Statements” sections and elsewhere in the Company’s reports and filings made from time to time with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond the control of the Company, and any one of which, or a combination of which, could materially and adversely affect the results of the Company's operations and its financial condition. We undertake no obligation to update information contained in this release.

Source: Matrix Service Company