2022-10-25 | NDAQ:MTRX | Press release

TULSA, Okla., Oct. 25, 2022 (GLOBE NEWSWIRE) — Matrix Services Company (Nasdaq: MTRX) today announced that its subsidiary, Matrix NAC, has been awarded the engineering, procurement and construction of upgrades to an existing state-of-the-art LNG peak shaving facility that includes a new gas liquefaction system and a vaporization system. This project for a large utility located in the Mid-Atlantic region of the United States has been awarded and will be put on hold in the second quarter of fiscal 2023.

“With over 60 years of experience engineering and building cryogenic infrastructure, and our reputation as a leader in LNG peak shaving facilities, this project highlights our capabilities to provide services that improve and extend the life of critical assets such as this,” said Matrix Service Company President and CEO John R. Hewitt. “We appreciate the trust this long-time customer has placed in Matrix and look forward to completing this job with the highest possible quality, safely, on time and on budget.”

About Matrix Service Company

Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is one of North America’s leading industrial engineering, construction and maintenance contractors. South Korea.

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

By focusing on sustainability, creating strong environmental, social and governance (ESG) practices and living our core values, Matrix is ​​ranked among the top contractors by Engineering-News Record, has been recognized for the diversification of its Board of Directors, is an active signatory of the CEO Action for Diversity & Inclusion, and is recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit www.matrixservicecompany.com and read our FY22 Sustainability Report.

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This release contains forward-looking statements that are made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are generally accompanied by words such as “anticipate,” “continue,” “expect,” ” forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey a future meaning, relating to the Company’s operations, economic performance and the Company’s best judgment. management 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. Actual results for current and future periods and further developments of the business will depend on a number of economic, competitive and other influences, including the factors discussed in “Risk Factors”. isque&CloseCurlyDoubleQuote ; 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 Company’s control, and any one of them, or any combination thereof, could have a material and adverse effect on the Company’s results of operations and financial condition. . We assume no obligation to update the information contained in this press release.

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Veronica J. Snell