Matrix Service Company Announces Alliance Agreement
TULSA, Okla., Sept. 4, 2013 (GLOBE NEWSWIRE) -- Matrix Service Company
(Nasdaq:MTRX) announced today that it has entered into an exclusive Alliance
Agreement with TransCanada Corporation (TransCanada) to construct storage
terminals in North America. Matrix Service will provideengineering,
fabrication, and erection associated with the construction of new storage
terminals and/or the expansion of existing terminals. The term of the
agreement is five years.The scope of the agreement will principally include
the construction of new storage tanks but also may include the balance of
plant for theentire terminal.
John Hewitt, CEO of Matrix Service Company, stated,"We are excited to be
selected by TransCanada as their partner on the extensive build out of new
storage terminals associated with the expansion of their pipeline network
within the United States and Canada.We look forward to completing safe, high
quality and successful projects for TransCanada over the next five years."
About Matrix Service Company
Matrix Service Company provides engineering, fabrication, construction and
repair and maintenance services to the Electrical Infrastructure, Oil Gas&
Chemical, Storage Solutions and Industrial markets.
The Company is headquartered in Tulsa, Oklahoma, with regional operating
facilities throughout 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 S. Cavanah
Vice President and CFO
Matrix Service Company Logo
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