American Pacific Borates Limited Selects Matrix Service to Construct Fort Cady Borate Mine Facility
Matrix Service Company (Nasdaq: MTRX) announced that its subsidiary, Matrix Service Inc., will lead the first phase of construction for the Fort Cady Borate Mine Facility in California, selected by American Pacific Borates Limited (APB). This phase aims to produce 20,000 short tons of potassium sulfate and 9,000 short tons of boric acid annually. Construction is set to begin in Q1 2021. CEO John R. Hewitt expressed pride in contributing to this significant infrastructure project, emphasizing safety, quality, and timely delivery.
- Selected for a major construction project with American Pacific Borates Limited, enhancing revenue opportunities.
- Phase One A is poised to produce significant quantities of potassium sulfate and boric acid, indicating strong future demand.
- None.
TULSA, Okla., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that its subsidiary, Matrix Service Inc. (“Matrix Service”) has been selected by American Pacific Borates Limited (“American Pacific” or “APB”) for the first phase of construction of its Fort Cady Borate Mine Facility in southern California. When completed, Phase One A is targeted to produce 20,000 short tons per annum (stpa) of potassium sulfate and 9,000 stpa of boric acid, with amounts increasing in subsequent phases.
"We are extremely proud to have been selected by American Pacific for the construction of this critical infrastructure, which will expand their ability to provide the market with these important industrial components,” said Matrix Service Company CEO John R. Hewitt. “We look forward to helping them achieve their objectives by delivering this project safely, with the highest quality, on time and on budget."
Construction for this phase is expected to begin in the first quarter of calendar 2021.
About Matrix Service Company
Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is a leading North American industrial engineering and construction 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 100 Contractors by Engineering-News Record, was recognized for its Board diversification by 2020 Women on Boards, is an active signatory to CEO Action for Diversity and Inclusion, and is consistently recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit matrixservicecompany.com
For more information about Matrix, please contact:
| Kevin S. Cavanah | Kellie Smythe |
| Matrix Service Company | Matrix Service Company |
| Vice President and CFO | Senior Director, Investor Relations |
| T: 918-838-8822 | T: 918-359-8267 |
| Email: ir@matrixservicecompany.com | 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.
FAQ
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