TULSA, Okla., March 21, 2017 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX ) announced today that its subsidiary, Matrix Service Inc. has been awarded the engineering, fabrication, procurement, and construction of 10 new tanks and associated balance of plant work by Vopak Americas, a division of Royal Vopak, for their Deer Park Brownfield Expansion project. The planned expansion at the Vopak Terminal Deer Park, located on the Houston Ship Channel, will add approximately 138,000 cubic meters of capacity and related infrastructure to receive, store and export ethanol and biodiesel products.
“We are extremely proud to have been selected as the EPC contractor for this significant terminal expansion, which underscores Vopak’s leading position in the independent tank storage market and supports the growing global demand for biofuels,” said John Hewitt, CEO of Matrix Service Company. “We appreciate the trust Vopak has placed in us and look forward to completing this project safely, on time and on budget.”
The project was awarded and commenced in mid-December 2016 and is expected to be commissioned by Vopak in the first calendar quarter of 2019.
“We are excited to be expanding our Deer Park Terminal with a state of the art zero emission tank capacity and relevant infrastructure,” said Boudewijn Siemons, Division President for Vopak Americas. “Sustainability is a core value at Vopak and this investment ensures all emissions, including tank venting are captured and destroyed.” “With their long-standing reputation as a leader in the EPC of storage tanks and terminals, we are confident in Matrix Service’s ability to meet our exacting standards for safety and quality.”
About Matrix Service Company
Founded in 1984, Matrix Service Company is parent to a family of companies that include Matrix Service, Matrix NAC, Matrix PDM Engineering and Matrix Applied Technologies. Our subsidiaries design, build and maintain infrastructure critical to North America’s energy, power and industrial markets. Matrix Service Company is headquartered in Tulsa, Oklahoma with subsidiary offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.
The Company reports its financial results based on four key operating segments: Electrical Infrastructure, Storage Solutions, Oil Gas & Chemical and Industrial. To learn more about Matrix Service Company, visit matrixservicecompany.com
About Royal Vopak
Royal Vopak is the world’s leading independent tank storage company. We operate a global network of tank terminals located at strategic locations along major trade routes. With a history of 400 years and a focus on sustainability, we ensure safe, efficient and clean storage and handling of bulk liquid products for our customers. By doing so, we enable the delivery of products that are vital to our economy and daily lives, ranging from oil, chemicals, gases and LNG to biofuels and vegoils. Vopak is listed on the NYSE Euronext Amsterdam stock exchange and headquartered in Rotterdam, the Netherlands. Including our joint ventures, we employ an international workforce of more than 6,000 people.
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.
For more information, please contact: Matrix Service Company Kevin S. Cavanah Vice President and CFO +1-918-838-8822 Email:kcavanah@matrixservicecompany.com Vopak Americas Stefany Cortes Regional Communications Manager +1-713-561-7216 Email: stefany.cortes@vopak.com
