Benzinga | Oct 20, 2021 08:19AM EDT

Matrix Service Secures Contract From Calumet For Construction Of Storage Tanks At Montana Facility

* Matrix Service Co (NASDAQ:MTRX) subsidiary, Matrix Service Inc., has secured the engineering, fabrication, and construction of seven storage tanks at Calumet Specialty Products Partners, L.P. facility in Great Falls, Montana. The financial terms were not disclosed.

* The award was made in the first quarter of fiscal 2022. Engineering related to the project will be completed by Matrix Service sister company, Matrix PDM Engineering.

* The tanks are being constructed to support the production of up to 12,000 barrels per day of renewable fuels. The facility is expected to become operational and produce renewable diesel in 2Q22.

* Price Action: MTRX shares closed lower by 2.56% at $9.88 on Tuesday.