Profile: Matrix Service Co (MTRX.O)
12 Mar 2014
Matrix Service Company, incorporated on October 13, 1989, provide engineering, fabrication, construction and maintenance services primarily to oil, gas, power, petrochemical, industrial and mining and minerals markets. The Company operates in four segments: Electrical Infrastructure segment, Oil Gas & Chemical segment, Storage Solutions segment and Industrial segment. The Company is licensed to operate in all 50 states and in four Canadian provinces. During the fiscal year ended June 30, 2012 (fiscal 2012), the Company provided services to approximately 430 customers. The Company’s Matrix Service Inc., acquired certain assets from Pelichem Industrial Cleaning Services, LLC on December 31, 2012. In December 2013, the Company announced that it has completed the acquisition of Kvaerner North American Construction, Ltd. and substantially all of the assets of Kvaerner North American Construction, Inc., from subsidiaries of Kvaerner ASA.
The Electrical Infrastructure segment primarily encompasses high voltage services to investor owned utilities, including construction of new substations, upgrades of existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services. The Company also provides construction and maintenance services to a variety of power generation facilities, such as combined cycle plants, nuclear facilities, coal fired power stations, and renewable energy installations.
The Oil Gas & Chemical segment includes its traditional turnaround activities, plant maintenance services and construction in the downstream petroleum industry. Another offering is industrial cleaning services, which include hydroblasting, hydroexcavating, chemical cleaning and vacuum services. The Company also performs work in the renewable energy, industrial and natural gas, gas processing and compression and upstream petroleum markets.
The Storage Solutions segment includes new construction of, as well as planned and emergency maintenance services for crude and refined products aboveground storage tanks. Also included in the Storage Solutions segment is work related to specialty storage tanks, including liquefied natural gas (LNG), liquid nitrogen/liquid oxygen (LIN/LOX), liquid petroleum (LPG) tanks and other specialty vessels including spheres. Finally, the Storage Solutions segment includes balance of plant work in storage terminals and tank farms. The Industrial segment includes work in the mining and minerals industry, bulk material handling, thermal vacuum chambers, as well as work for clients in other industrial and manufacturing markets.
Matrix Service Co
Suite 700, 5100 E. Skelly Dr.
TULSA OK 74135