TULSA, Okla., June 4 /PRNewswire-FirstCall/ -- Matrix Service Co. (Nasdaq: MTRX) today announced that its wholly owned subsidiary, Matrix Service, Inc., has been awarded a contract in excess of $40 million with Gavilon Pipeline and Storage, LLC, a wholly owned subsidiary of The Gavilon Group, LLC, and Deeprock Tanks, LLC for engineering, fabrication and construction of aboveground crude oil storage tanks in Cushing, Oklahoma.
"We are pleased to be selected to construct the aboveground storage tanks for Gavilon's crude oil terminal in Cushing," said Michael J. Bradley, president and CEO of Matrix Service. "We look forward to completing this important project for Gavilon."
Deeprock Tanks, LLC will be the construction manager of the facility, which is expected to be complete during the third quarter of 2011.
About Matrix Service Company
Matrix Service Company provides engineering, 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 California, Delaware, Illinois, Michigan, New Jersey, Oklahoma, Pennsylvania, Texas, and Washington in the U.S. and in 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.
About The Gavilon Group, LLC
Gavilon Pipeline and Storage, LLC is a wholly owned subsidiary of The Gavilon Group, LLC. The Gavilon Group, LLC provides essential services in the physical distribution, trading, merchandising and risk management of raw materials and value-added products moving through the global supply chain of grain, feed ingredients, fertilizers and energy products. For more information, please visit www.gavilon.com.
About Deeprock Tanks, LLC
Deeprock Tanks, LLC is an affiliate of Deeprock Energy Resources, LLC. The Company is headquartered in Cushing, OK. Deeprock Tanks provides construction management services for the construction of crude oil storage terminals.
For more information, please contact:
Matrix Service Company
Vice President and CFO
SOURCE Matrix Service Co.