TULSA, Okla., July 18, 2022 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today that its subsidiary, Matrix Service Inc., has been selected by Northrop Grumman for two thermal vacuum chamber projects, the first of which is the Engineering Procurement and Construction (EPC) for a new state-of-the-art thermal vacuum chamber at Northrop Grumman’s Gilbert, Arizona campus. The EPC work for the Gilbert project was awarded in the fourth quarter of Fiscal 2022, following a previous award for the Front-End Engineering Design (FEED).
In the third quarter of Fiscal 2022, Matrix Service was awarded a second project for EPC work related to the modernization of a thermal vacuum chamber at Northrop Grumman’s Space Park in Redondo Beach, California.
The thermal vacuum chamber in Gilbert is part of Northrop Grumman’s expansion of its satellite engineering and manufacturing operations in Arizona, which was completed in April 2022. The state-of-the-art facility provides design, manufacturing, assembly, integration, and testing in support of high-profile satellite missions including critical science missions for NASA in addition to other programs that support national security.
The Space Park project, which has already begun, will include EPC work on an existing thermal vacuum chamber to bring it to modern, state-of-the-art condition and will include replacement of existing thermal shrouds and mechanically insulated piping, as well as installation of advanced technology and state-of-the-art Human Machine Interface (HMI) controls.
The FEED and final design and engineering on both projects will be completed by Matrix Service sister company, Matrix PDM Engineering.
Long known for its expertise in the design, engineering, and construction of thermal vacuum chambers, Matrix has designed more than 70 vacuum chambers for both the aerospace industry and government laboratories.
“With more than 60 years of experience in thermal vacuum chambers, this project supports our strategy of drawing on our engineering expertise to meet our customers’ needs from concept to completion and also highlights our capabilities in designing and constructing highly complex specialty vessels,” said Matrix Service Company President and CEO John R. Hewitt. “We are very proud of our team’s work with the aerospace industry and value the opportunity to support Northrop Grumman’s infrastructure and technology needs. We appreciate the trust and confidence the technology company has placed in Matrix and look forward to delivering the highest quality possible – safely, on-time, and on budget.”
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 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.
