Matrix Service Company Announces Award of Two Capital Projects in Iron and Steel Industry
TULSA, Okla., Sept. 12, 2017 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq:MTRX) announced today that its subsidiary, Matrix NAC, has been awarded two separate blast furnace repair projects in the iron and steel industry, both of which will enhance the infrastructure, stability, efficiency and material handling of the associated facilities.
"With some improvement in commodity prices in early calendar 2017, together with the domestic steel industry's expectation for import protection and increased infrastructure spending, we are seeing an uptick in spending levels after a very challenging period," said John R. Hewitt, CEO of Matrix Service Company. "We're proud of our position as a premier contractor to the integrated iron and steel industry as demonstrated by these two awards, and look forward to partnering with this customer to complete these projects safely, on time and on budget."
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.
For more information, please contact:
Matrix Service Company
Kevin S. Cavanah
Vice President and CFO
T: 918-838-8822
E: kcavanah@matrixservicecompany.com
Alpha IR Group
Investor Relations
Robert Winters
T: 312-445-2870
E: MTRX@alpha-ir.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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