Matrix Service Company Announces Contract Renewal as Preferred Maintenance Contractor for BP's Cherry Point Refinery
TULSA, Okla., Dec. 16, 2015 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq:MTRX) announced today that BP has renewed its contract with subsidiary, Matrix Service Inc., as the preferred maintenance contractor for its Cherry Point Refinery through 2020.
"We are extremely proud of our relationship with BP at their Cherry Point refinery," said Matrix Service Company president and CEO John R. Hewitt. "Long-term relationships are central to the values that drive us."
BP's Cherry Point Refinery is the largest in the state of Washington and third largest on the West Coast, processing approximately 230,000 barrels of crude per day.
Matrix Service has provided on-site maintenance, capital project and turnaround work at the refinery for more than 20 years and its employees, some of whom worked for companies previously acquired by Matrix, have been on-site even longer.
Matrix currently has 250 people on-site at the Cherry Point refinery, although those numbers increase dramatically during planned outages.
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.
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 T: 918-838-8822 Email:email@example.com