Press Release

TULSA, Okla., Dec. 10, 2018 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that Chevron has awarded its subsidiary, Matrix Service Inc., construction of the first-ever alkylation unit in the U.S. designed to use ionic liquids, at Chevron’s Salt Lake City refinery.

The unit, which will replace an existing HF alkylation unit, will rely on the ISOALKY^TM Technology developed by Chevron USA Inc. and licensed by Honeywell UOP, to produce high-octane, cleaner burning fuels.

“We are very pleased to have been selected for this historic project and to support Chevron as they implement this environmentally beneficial technology at their Salt Lake refinery,” said Matrix Service Company President and Chief Executive Officer, John R. Hewitt. “Our teams have provided service and expertise inside Chevron’s refineries for nearly 30 years, and we appreciate the ongoing trust and confidence placed in us to complete this important project safely, on time and on budget.”

With construction scheduled to begin in January 2019, the unit is expected to become fully operational in 2020.

About Matrix Service Company

Founded in 1984, Matrix Service Company is parent to a family of companies that include Matrix Service Inc., Matrix NAC, Matrix PDM Engineering and Matrix Applied Technologies. Our subsidiaries design, build and maintain infrastructure critical to North America’s energy 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

For more information, please contact:

Kevin S. Cavanah
Vice President and CFO
+1-918-838-8822
Email: ir@matrixservicecompany.com

Kellie Smythe
Senior Director, Investor Relations
T: 918-359-8267
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.

Source: Matrix Service Company