Matrix Service Company Receives Award From Long-Standing Client for Multiple Storage Tanks on the West Coast

TULSA, Okla., March 05, 2024 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today its subsidiary, Matrix North American Construction (Matrix NAC) has been awarded the engineering, procurement, and construction of three 522,000-barrel crude oil storage tanks for a long-standing client at a terminal on the West Coast. Matrix Applied Technologies will also provide geodesic domes, which help manage carbon emissions, as part of the project.

“As a leader in the engineering, construction, and maintenance of storage tanks and terminals, this award is but one of a growing number of downstream project opportunities and supports our client’s commitment to meeting the world’s ongoing need for fossil fuel while also lowering the carbon intensity of their operations,” said Matrix Service President and CEO John R. Hewitt. “We value our long-standing relationship with this client and their trust and confidence in us to engineer and construct this critical infrastructure.”  

About Matrix Service Company        

Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is a leading North American industrial engineering, construction, and maintenance contractor headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.

The Company reports its financial results in three key operating segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.

With a focus on sustainability, building strong Environment, Social and Governance (ESG) practices, and living our core values, Matrix ranks among the Top Contractors by Engineering-News Record, has been recognized for its Board diversification, is an active signatory to CEO Action for Diversity and Inclusion, and is recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit www.matrixservicecompany.com and read our most recent Sustainability Report.

For more information about Matrix, please contact:

Kellie Smythe
Matrix Service Company
Senior Director, Investor Relations
T: 918-359-8267
Email: ksmythe@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.