Matrix Service Inc. Awarded EPC New Tank Construction Package From Kinder Morgan Energy Partners, L.P.
TULSA, Okla., Nov. 17, 2014 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq:MTRX) announced today that its subsidiary, Matrix Service Inc., has been awarded an engineering, procurement and construction (EPC) contract by Kinder Morgan Energy Partners, L.P. (NYSE:KMP) in support of infrastructure improvements at the Houston Ship Channel. As previously announced by KMP, it is expanding storage capacity and ship dock capabilities to provide additional infrastructure to help meet the growing demand for refined product storage and dock services along the channel.
The portion of the project awarded to Matrix includes 12 above ground storage tanks at the Kinder Morgan Export Terminal at Pasadena, TX, with capacity in excess of 1.1 million barrels.
John Hewitt, CEO of Matrix Service Company, noted that "this award further strengthens our relationship with Kinder Morgan as a key supplier of EPC services in the North American energy markets and in particular the gulf coast. It also demonstrates our ability to provide full service contracting support to Kinder Morgan as they continue to grow."
About Matrix Service Company
Matrix Service Company provides engineering, fabrication, construction and maintenance services to Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions and Industrial markets.
The Company is headquartered in Tulsa, Oklahoma, with regional operating facilities in the United States 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 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.
CONTACT: Matrix Service Company
Kevin Cavanah
Vice President and CFO
T: 918-838-8822
E: kcavanah@matrixservicecompany.com
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