Home Service company 2022-07-18 | NDAQ:MTRX | Press release

2022-07-18 | NDAQ:MTRX | Press release

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TULSA, Okla., July 18, 2022 (GLOBE NEWSWIRE) — Matrix Services Company (Nasdaq: MTRX) today announced that its subsidiary, Matrix Service Inc., has been selected by Northrop Grumman for two thermal vacuum chamber projects, the first of which is engineering, procurement and construction (EPC ) for a new state-of-the-art thermal vacuum chamber at the Gilbert, Arizona campus of Northrop Grumman’ EPC work for the Gilbert project was awarded in the fourth quarter of fiscal 2022, following from a previous award for Front End Engineering Design (FEED).

During the third quarter of fiscal 2022, Matrix Service won a second project for EPC work related to the retrofit of a thermal vacuum chamber at Northrop Grumman’s Space Park in Redondo Beach, California.

The Gilbert thermal vacuum chamber 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, fabrication , assembly, integration, and testing in support of high-level 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 a modern, state-of-the-art state and will include the replacement of existing thermal shrouds and insulation piping. mechanical, as well as installing state-of-the-art technology and state-of-the-art human-machine interface (HMI) controls.

FEED and final design and engineering for both projects will be performed by Matrix Service’s sister company, Matrix PDM Engineering.

Long known for its expertise in the design, engineering and construction of thermal vacuum chambers, Matrix has designed over 70 vacuum chambers for the aerospace industry and government laboratories.

“With over 60 years of experience in thermal vacuum chambers, this project supports our strategy of leveraging our engineering expertise to meet our customers’ needs from concept to completion and also highlights our capabilities in the design and construction of highly complex, specialized vessels,” said John R. Hewitt, President and CEO of Matrix Service Company. “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 the technology company has placed in Matrix and look forward to delivering the highest quality possible – safely, on time and within limits. budget.”

About Matrix Service Company

Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is one of North America’s leading industrial engineering, construction and maintenance contractors. South Korea.

The Company reports financial results in three key operating segments: Utilities and Power Infrastructure, Industrial Process and Facilities, and Storage and Terminal Solutions.

By focusing on sustainability, creating strong environmental, social and governance (ESG) practices and living our core values, Matrix is ​​ranked among the top contractors by Engineering-News Record, has been recognized for the diversification of its Board of Directors, is an active signatory of the CEO Action for Diversity & Inclusion, and is recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit www.matrixservicecompany.com and read our first sustainability report.

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This release contains forward-looking statements that are made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are generally accompanied by words such as “anticipate,” “continue,” “expect,” ” forecast,” “outlook,” “believe,” “estimate,” “should” and “will” and words of similar effect that convey a future meaning, relating to the Company’s operations, economic performance and the Company’s best judgment. management as to what might happen in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. Actual results for current and future periods and other business developments will depend on a number of economic, competitive and other influences, including the factors discussed in “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 Company’s control, and any one of them, or a combination thereof, could have a material and adverse effect on the Company’s results of operations and financial condition. . We assume no obligation to update the information contained in this press release.

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