UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) September 19, 2006
Matrix Service Company
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
| 001-15461 | 73-1352174 | |
| (Commission File Number) | (IRS Employer Identification No.) |
| 10701 E. Ute Street Tulsa, Oklahoma |
74116 | |
| (Address of Principal Executive Offices) | (Zip Code) |
918-838-8822
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events.
On September 19, 2006, Matrix Service Company announced that Matrix Service Inc., its wholly owned subsidiary, has executed an agreement with Plains Marketing, L.P., a subsidiary of Plains All American Pipeline, L.P. (NYSE: PAA) for the turnkey Phase VI expansion of Plains’ crude oil storage and terminalling facility in Cushing, OK, including the Engineering, Fabrication and Construction (EFC) of additional tanks.
Under the Phase VI expansion, Plains will construct approximately 3.4 million barrels of additional tankage. The Phase VI project will expand the total capacity of the facility to 10.8 million barrels and, including manifold modifications, is expected to cost approximately $48 million, for which Matrix Service Inc. will be the primary contractor. It is estimated that the new tankage will become operational during the fourth quarter of calendar 2007.
Item 9.01 Financial Statements and Exhibits.
The following exhibit is filed or furnished herewith:
| Exhibit No. | Description | |
| 99 | Press Release dated September 19, 2006, announcing a definitive agreement to construct tankage at a terminal facility. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Matrix Service Company | ||||
| Dated: September 22, 2006 | By: | /s/ George L. Austin | ||
| George L. Austin | ||||
| Chief Financial Officer and Principal Accounting Officer | ||||
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99 | Press Release dated September 19, 2006, announcing a definitive agreement to construct tankage at a terminal facility. |
Exhibit 99
FOR IMMEDIATE RELEASE
MATRIX SERVICE COMPANY ANNOUNCES DEFINITIVE AGREEMENT
TO CONSTRUCT TANKAGE AT TERMINAL FACILITY
TULSA, OK – September 19, 2006 – Matrix Service Co. (Nasdaq: MTRX), a leading industrial services company, today announced that Matrix Service Inc., its wholly owned subsidiary, has executed an agreement with Plains Marketing, L.P., a subsidiary of Plains All American Pipeline, L.P. (NYSE: PAA) for the turnkey Phase VI expansion of Plains’ crude oil storage and terminalling facility in Cushing, OK, including the Engineering, Fabrication and Construction (EFC) of additional tanks. Matrix Service Inc. has been providing turnkey solutions to Plains for more than fourteen years.
Under the Phase VI expansion, Plains will construct approximately 3.4 million barrels of additional tankage. The Phase VI project will expand the total capacity of the facility to 10.8 million barrels and, including manifold modifications, is expected to cost approximately $48 million, for which Matrix Service Inc. will be the primary contractor. It is estimated that the new tankage will become operational during the fourth quarter of calendar 2007.
Michael Hall, president and CEO of Matrix Service, said, “Matrix Service is pleased to continue its long-term relationship with Plains All American Pipeline and to have been chosen to construct this additional facility. Our team is looking forward to the opportunity to continue and build upon our existing relationship and provide Plains with high quality, safely constructed terminals that are completed on time.”
About Matrix Service Company
Matrix Service Company provides general industrial construction and repair and maintenance services principally to the petroleum, petrochemical, power, bulk storage terminal, pipeline and industrial gas industries.
The Company is headquartered in Tulsa, Oklahoma, with regional operating facilities located in Oklahoma, Texas, California, Michigan, Pennsylvania, Illinois, Washington and Delaware in the U.S. 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 identified 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: | Investors: | |
| Les Austin | Trúc N. Nguyen | |
| Vice President Finance and CFO | The Global Consulting Group, Inc. | |
| Matrix Service Company | 646/284-9418 | |
| 918/838-8822 | tnguyen@hfgcg.com | |
| laustin@matrixservice.com | ||