UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) October 11, 2007
Matrix Service Company
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
| 001-15461 | 73-1352174 | |
| (Commission File Number) | (IRS Employer Identification No.) |
| 10701 E. Ute Street | Tulsa, Oklahoma | 74116 | ||
| (Address of Principal Executive Offices) | (Zip Code) |
918-838-8822
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01 | Other Events. |
On October 11, 2007, Matrix Service Company announced that Matrix Service Inc., its wholly owned subsidiary, received an increase of its existing Engineering, Fabrication and Construction contract with SemCrude, L.P. for the construction of aboveground storage tanks in Cushing, Oklahoma. The scope of work was increased from 12 to 22 aboveground storage tanks, thus increasing the project value from $27 million to $51 million.
| Item 9.01 | Financial Statements and Exhibits. |
The following exhibit is filed herewith:
| Exhibit No. | Description | |
| 99 | Press Release dated October 11, 2007 announcing an increase in scope on an existing contract with SemCrude, L.P. for the construction of aboveground storage tanks. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Matrix Service Company | ||||||||
| Dated: October 11, 2007 |
By: | /s/ George L. Austin | ||||||
| George L. Austin | ||||||||
| Chief Financial Officer and Principal Accounting Officer | ||||||||
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99 | Press Release dated October 11, 2007 announcing an increase in scope on an existing contract with SemCrude, L.P. for the construction of aboveground storage tanks. | |
Exhibit 99
FOR IMMEDIATE RELEASE
MATRIX SERVICE INCREASES SCOPE OF WORK AT TERMINALLING FACILITY IN
CUSHING, OKLAHOMA
Facility Project Increased from 12 to 22 Tanks
TULSA, OK – October 11, 2007 – Matrix Service Co. (Nasdaq: MTRX), a leading industrial services company, today announced that its wholly owned subsidiary Matrix Service Inc., has received an increase of its existing Engineering, Fabrication and Construction (EFC) contract with SemCrude, L.P., previously announced on December 21, 2006. SemCrude is part of SemGroup, L.P., which was named No. 5 on Forbes 2006 list of America’s Largest Private Companies. The original project was for the construction of 12 aboveground storage tanks (AST) in Cushing and was valued at $27 million. Recently, the scope of work was increased significantly and the project value has increased to $51 million and includes 22 ASTs with a total capacity of approximately 6.1 million barrels. The initial project had commenced and was on schedule for completion in the summer of 2008. The entire project is now expected to be completed in the second quarter of calendar 2009.
Michael J. Bradley, president and CEO of Matrix Service, said, “This expansion further reinforces our commitment to delivering high quality products and services and timely results in a safe work environment. We continue to strengthen our relationships with existing customers and look forward to providing further support and services to SemCrude as they continue to grow their business.”
About Matrix Service Company
Matrix Service Company provides general industrial construction and repair and maintenance services principally to the petroleum, petrochemical, power, bulk storage terminal, pipeline and industrial gas industries.
The Company is headquartered in Tulsa, Oklahoma, with regional operating facilities located in Oklahoma, Texas, California, Michigan, Pennsylvania, Illinois, Washington and Delaware in the U.S. and Canada.
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 identified 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
Les Austin, Vice President Finance and CFO
T: +1-918-838-8822
E: laustin@matrixservice.com
Investors and Financial Media:
Trúc Nguyen, Deputy Managing Director
The Global Consulting Group
T: +1-646-284-9418
E: tnguyen@hfgcg.com