Matrix Service Awarded Engineering, Procurement and Construction of LNG Storage and Vaporization Facility for Southwest Gas
TULSA, Okla., July 11, 2017 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq:MTRX) announced today that its subsidiary, Matrix Service Inc., has been named by Southwest Gas Corporation as the Engineering, Procurement and Construction (EPC) contractor for its Southern Arizona Reliability Project LNG storage facility. The LNG storage and vaporization facility will include a 2.8 million gallon single containment LNG storage tank, as well as a 65,000 MCF/day vaporization unit. The facility will be the state's first natural gas storage facility and is being built to improve gas supply reliability. Southwest Gas provides natural gas services to nearly 2 million customers in Arizona, Nevada and California.
"We are very pleased to have been selected by Southwest Gas as the EPC contractor on this important project," said John R. Hewitt, CEO of Matrix Service Company. "We are proud of our long-standing leadership position in cryogenic tanks and related infrastructure, and look forward to partnering with Southwest Gas to safely complete this facility with high quality and on time. This project complements our gas value chain strategy to combine our specialty vessel expertise, with our core competency in balance of plant design and construction."
Matrix began preliminary engineering work earlier this year with groundbreaking planned for late summer 2017.
About Matrix Service Company
Founded in 1984, Matrix Service Company is parent to a family of companies that include Matrix Service, Matrix NAC, Matrix PDM Engineering and Matrix Applied Technologies. Our subsidiaries design, build and maintain infrastructure critical to North America's energy, power and industrial markets. Matrix Service Company is headquartered in Tulsa, Oklahoma with subsidiary offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.
The Company reports its financial results based on four key operating segments: Electrical Infrastructure, Storage Solutions, Oil Gas & Chemical and Industrial. To learn more about Matrix Service Company, visit matrixservicecompany.com
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.
For more information, please contact: Matrix Service Company Kevin S. Cavanah Vice President and CFO +1-918-838-8822 Email:kcavanah@matrixservicecompany.com
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