TULSA - Matrix Service Company (NASDAQ:MTRX), a North American industrial engineering and construction contractor, announced that its subsidiary, Matrix North American Construction (Matrix NAC), has secured a contract to engineer, procure, and construct three large crude oil storage tanks on the West Coast. The tanks, each with a capacity of 522,000 barrels, are part of an effort by a longstanding client to meet the demand for fossil fuels while reducing carbon emissions.
The project also involves Matrix Applied Technologies, another subsidiary of Matrix Service Company, which will supply geodesic domes designed to manage carbon emissions. This move aligns with the client's commitment to sustainability and lowering the carbon intensity of their operations.
Matrix Service Company's President and CEO, John R. Hewitt, expressed appreciation for the trust placed in the company by its client and noted the significance of the project in supporting the ongoing global need for energy resources. He emphasized the importance of the construction of such critical infrastructure.
Headquartered in Tulsa, Oklahoma, Matrix Service Company operates across the United States, Canada, Australia, and South Korea. The company is structured into three key operating segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions.
With an emphasis on sustainability, Matrix Service Company has been recognized for its strong Environment, Social, and Governance (ESG) practices, including its diverse board and commitment to diversity and inclusion. The company is also certified as a Great Place to Work® and ranks among the Top Contractors by Engineering-News Record.
This contract award is indicative of Matrix Service Company's growing presence in the downstream project space and highlights its capabilities in the design and construction of storage and terminal solutions. The information for this report is based on a press release statement from Matrix Service Company.
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