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Slide #97. Matrix Service Company — North American Construction Business From Kvaerner
Matrix Service Company (NASDAQ:MTRX)
North American Construction Business From Kvaerner
Matrix Service Company (Nasdaq:MTRX) 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. Going forward, the businesses will be known as Matrix North American Construction Ltd. ("MNAC Ltd.") and Matrix North American Construction, Inc. ("MNAC, Inc."). "The completion of this transaction marks a major milestone in the strategic development of Matrix Service Company and we are excited about the opportunities our new team members will create in our overall business," noted John R. Hewitt, President and Chief Executive Officer.
Matrix Service provides engineering, fabrication, infrastructure, construction, and maintenance services. Co.'s segments are: Electrical Infrastructure, which consists of power delivery services provided to investor owned utilities; Oil Gas and Chemical, which serves customers who are engaged in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids; Storage Solutions, which consists of work related to aboveground storage tanks and terminals; and Industrial, which consists of work for integrated iron and steel companies, main mining and minerals companies engaged in the extraction of copper, as well as companies in other industries.
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