TRC Becomes Major Tulsa Employer With Acquisition of Willbros Professional Services
TULSA, OK--(Marketwired - Jan 20, 2016) - TRC Companies, Inc. and the Tulsa Regional Chamber today hosted an open house and ribbon-cutting ceremony, to welcome the Willbros Professional Services staff to the TRC family and to introduce the newly expanded company to the greater Tulsa community. During the event, Tulsa Mayor Dewey F. Bartlett Jr., TRC leadership and local government officials discussed the impact of the acquisition for the Tulsa community and for the Company's clients.
TRC, a recognized leader in engineering, environmental consulting and construction-management services, acquired the professional services business segment of Willbros late last year. The new TRC business unit, "Pipeline Services," positions TRC as the leading provider of end-to-end solutions in both the power and oil & gas markets.
Speakers at the event included Dewey F. Bartlett Jr., Mayor of the City of Tulsa; Mike Neal, President and CEO of the Tulsa Regional Chamber; Chris Vincze, Chairman & CEO of TRC; Ed Wiegele, Senior Vice President and Pipeline Services Sector Director at TRC (formerly President of Willbros Professional Services); and Scott Pruitt, Oklahoma Attorney General.
"We couldn't be happier to be here in Tulsa today, welcoming our new colleagues and introducing TRC to the community," Vinzce said. "The merger of our organizations is transformational for both of our businesses. We are truly 'better together,' with expanded capabilities to serve the oil and gas market at a time when cleaner natural gas solutions are pivotal to our collective energy future. We are focused on providing immediate and long-term value to all of our clients and are committed to helping the Tulsa business community continue to grow."
"Tulsa is home to several major industries, including oil and gas, and the region has the greatest growth and employment concentration in the country," Neal said. "We are confident TRC will be a valuable partner as we continue to expand our workforce and boost economic development for years to come."
About TRC Pipeline Services (formerly Willbros Professional Services)
Headquartered in Tulsa, OK, and led by Wiegele, TRC Pipeline Services has approximately 750 employees in nine offices nationwide. It has a premier reputation as a provider of innovative pipeline and facilities engineering, EPC/EPCM, field services and integrity services to the oil and gas transmission and midstream markets, as well as at government facilities. The segment's 2014 gross revenue was approximately $209 million.
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, environmental consulting and construction management firm that provides integrated services to the energy, environmental, infrastructure and pipeline services markets. TRC serves a broad range of commercial, industrial and government clients, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information and updates from the Company, visit TRC's website at www.TRCsolutions.com and follow TRC on Twitter at @TRC_Companies and on LinkedIn.
Certain statements in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as "may," "expects," "plans," "anticipates," "believes," "estimates," or other words of similar import. You should consider statements that contain these words carefully because they discuss TRC's future expectations, contain projections of the Company's future results of operations or of its financial condition, or state other "forward-looking" information. TRC believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed as a result of various factors, including, but not limited to, the uncertainty of TRC's operational and growth strategies; circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and income tax assessments; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC's services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified personnel; the availability and adequacy of insurance; and general political or economic conditions. Furthermore, market trends are subject to changes, which could adversely affect future results. See the risk factors and additional discussion in TRC's Annual Report on Form 10-K for the fiscal year ended June 30, 2015, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the Company's other filings with the Securities and Exchange Commission.
(January 20, 2016 - 10:30 AM EST)
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