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Matrix Service Awarded Tank Construction Projects for ExxonMobil Along the Texas Gulf Coast

Press release




Matrix Service Awarded Tank Construction Projects for ExxonMobil Along the Texas Gulf Coast

TULSA, Okla., Feb. 18, 2020 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced that its subsidiary Matrix Service Inc. has been awarded multiple projects by ExxonMobil under a recently signed long-term master service agreement. The projects, which are already in backlog, include the engineering, fabrication and construction of six 500,000-barrel tanks, four of which will be located at ExxonMobil’s Webster Station in Webster, TX with the remaining two at its Baytown Complex in Baytown, TX. Matrix Applied Technologies will supply their FlowDomeTM geodesic domes for the tanks at Webster Station as well as floating roof seals for all six tanks.  

“We are very pleased to have been selected by ExxonMobil for these expansion projects which will support the Wink to Webster pipeline system,” said Matrix Service Company President and Chief Executive Officer John R. Hewitt. “As a leader in the design and construction of storage tanks, tank products and terminals, we look forward to working with ExxonMobil on these and future projects, and to delivering this project safely, on time, and with the highest degree of quality.”

About Matrix Service Company
Founded in 1984, Matrix Service Company (Nasdaq: MTRX) is parent to a family of companies that includes Matrix PDM Engineering, Matrix Service Inc., Matrix NAC, and Matrix Applied Technologies. Our companies design, build and maintain infrastructure critical to North America's energy and industrial markets. Matrix Service Company is 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 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.

With a culture driven by its core values of safety, integrity, stewardship, positive relationships, community involvement and delivering the best, Matrix has twice been named to Forbes Top 100 Most Trustworthy Companies in America and is consistently recognized as a Great Place to Work®.

For more information about Matrix, please contact:

Kevin S. Cavanah     Kellie Smythe
Matrix Service Company     Matrix Service Company
Vice President and CFO     Senior Director, Investor Relations
T: 918-838-8822     T: 918-359-8267
Email: ir@matrixservicecompany.com     Email: ksmythe@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. 

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Source: Matrix Service Company