Calumet Specialty Products Partners, L.P. Awards Matrix Service Engineering, Fabrication and Construction of Multiple Storage Tanks at Great Falls Renewable Fuels Facility
Matrix Service Company (MTRX) announced its subsidiary has been awarded a contract for engineering, fabrication, and construction of seven storage tanks at Calumet Specialty Products Partners' facility in Great Falls, Montana. This project is aimed at supporting the production of renewable fuels, expected to generate up to 12,000 barrels per day. The facility is scheduled to commence operations in the second quarter of 2022. Matrix Service aims to deliver this project safely, on time, and on budget, contributing to North America's energy transition.
- Awarded a contract for seven storage tanks, indicating new revenue streams.
- Supports the production of renewable fuels, aligning with sustainability trends.
- Project expected to enhance the company's expertise in the renewable energy sector.
- None.
TULSA, Okla., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that its subsidiary, Matrix Service Inc., has been awarded the engineering, fabrication and construction of seven (7) storage tanks at Calumet Specialty Products Partners, L.P. facility in Great Falls, Montana. The award was made in the first quarter of Fiscal 2022. The tanks are being constructed to support the production of up to 12,000 barrels per day of renewable fuels. Engineering related to the project will be completed by Matrix Service sister company, Matrix PDM Engineering.
“We are excited to help lead the North America’s energy transition in Montana, the Pacific Northwest, and western Canada. This project will help diversify our nation’s energy sources and reduce our carbon footprint immediately,” said Bruce Fleming, Executive Vice President of Calumet. “We are pleased to have Matrix Service provide the engineering, fabrication, and construction of our renewable storage tanks for this critical infrastructure project.”
The facility is expected to become operational and produce renewable diesel in the second quarter of 2022.
“With our long-standing expertise and reputation as an industry leader in aboveground storage tanks and terminals, we are very pleased to partner with Calumet on this important project, and to do our part to support their commitment in the energy transition to clean, renewable fuels,” said Matrix Service Company’s President and Chief Executive Officer, John R. Hewitt. “We look forward to delivering this project safely, on time, and on budget.”
About Calumet
Calumet Specialty Products Partners, L.P. manufacturers, formulates, and markets a diversified slate of specialty branded products to customers in various consumer-facing and industrial markets. Calumet produces nearly 3,400 unique specialty products used in the development of the world’s most trusted brands and products. Calumet is vertically integrated and holds a comprehensive portfolio of branded products for use in commercial, industrial, and consumer applications. Headquartered in Indianapolis, Indiana, the company employs approximately 1,400 people and operates 12 facilities across North America, including 10 specialty product manufacturing and production facilities. Calumet products and services are available in more than 90 countries across the world, serving over 2,700 customers globally. www.calumetspecialty.com.
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 consistently recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit www.matrixservicecompany.com and read our inaugural Sustainability Report.
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
What is the significance of Matrix Service Company's new contract with Calumet?
When is the Great Falls facility expected to become operational?
How many barrels per day will the new tanks support for renewable fuels?
What are the expectations for the project delivery by Matrix Service Company?
