Primoris Services Corporation Announces New Underground Contract With Expected Value of $80M

Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced a new Master Service Agreement (“MSA”) from a major Northern California utility customer with an expected value of $80 million. The new contract was secured by Primoris Services' Underground division of ARB Inc., a Primoris subsidiary and part of the West Construction Service segment. The MSA will commence in October of 2014. This MSA is part of Primoris' ongoing maintenance and repair work for the utility customer. The scope of work covered by the MSA is camera inspection and repair of sewer mains and laterals where these facilities have been damaged, as well as preventative measures for all new construction. The MSA has a three year term with a one year option for a fourth and is estimated at $20 million per year.