Williams Announces Additional Work at Indian Point
01 Junho 2021 - 8:00AM
Business Wire
Williams Industrial Services Group Inc. (NYSE American: WLMS)
(“Williams” or the “Company”), a construction and maintenance
services company, today announced that, with the recent transfer in
ownership of the Indian Point Energy Center (“IPEC”) in Buchanan,
New York to Holtec International (“Holtec”), the Company has been
granted an expansion of its nuclear decommissioning scope with
Holtec from two units to five. Williams will provide supervision
and skilled craft labor from the local union halls near IPEC to
support both Holtec and its subsidiary, Comprehensive
Decommissioning International (“CDI”), across a wide array of
activities. Williams’ work is expected to begin in the third
quarter of 2021.
“We are pleased to announce this increase in scope with our
longstanding partners, Holtec and CDI,” said Kelly Powers,
President, Operations & Business Development of Williams. “We
believe we were awarded this additional, important decommissioning
work as a result of our unwavering commitment to meet and exceed
customer expectations on a daily basis in safety, quality, and
overall value. We’re honored to serve Holtec and CDI over the
coming decade and are dedicated to completing this project in a
professional manner that leverages our expertise and helps ensure a
safe and efficient decommissioning for the people of New York.”
About Williams
Williams Industrial Services Group has been safely helping plant
owners and operators enhance asset value for more than 50 years.
The Company provides a broad range of infrastructure related
services to customers in energy and industrial end markets,
including construction, maintenance, modification and support
services. Williams’ mission is to be the preferred provider of
construction, maintenance, and specialty services through
commitment to superior safety performance, focus on innovation, and
dedication to delivering unsurpassed value to its customers.
Additional information about Williams can be found on its
website: www.wisgrp.com.
Forward-looking Statement Disclaimer
This press release contains “forward-looking statements” within
the meaning of the term set forth in the Private Securities
Litigation Reform Act of 1995. The forward-looking statements
include statements or expectations regarding the Company’s IPEC
project, including the Company’s ability to begin the project as
scheduled, successfully complete the project in the expected
timeframe, and other related matters. These statements reflect the
Company’s current views of future events and financial performance
and are subject to a number of risks and uncertainties, some of
which have been, and may further be, exacerbated by the COVID-19
pandemic, including the Company’s level of indebtedness and ability
to make payments on, and satisfy the financial and other covenants
contained in, its debt facilities, as well as its ability to engage
in certain transactions and activities due to limitations and
covenants contained in such facilities; its ability to generate
sufficient cash resources to continue funding operations and the
possibility that it may be unable to obtain any additional funding
as needed or incur losses from operations in the future; exposure
to market risks from changes in interest rates; failure to maintain
effective internal control over financial reporting and disclosure
controls and procedures; the Company’s ability to attract and
retain qualified personnel, skilled workers, and key officers;
failure to successfully implement or realize its business
strategies, plans and objectives of management, and liquidity,
operating and growth initiatives and opportunities, including its
expansion into international markets and its ability to identify
potential candidates for, and consummate, acquisition, disposition,
or investment transactions; the loss of one or more of its
significant customers; its competitive position; market outlook and
trends in the Company’s industry, including the possibility of
reduced investment in, or increased regulation of, nuclear power
plants, declines in public infrastructure construction, and
reductions in government funding; the failure of the U.S. Congress
to pass infrastructure-related legislation benefiting the Company’s
end markets; costs exceeding estimates the Company uses to set
fixed-price contracts; harm to the Company’s reputation or
profitability due to, among other things, internal operational
issues, poor subcontractor performances or subcontractor
insolvency; potential insolvency or financial distress of third
parties, including customers and suppliers; the Company’s contract
backlog and related amounts to be recognized as revenue; its
ability to maintain its safety record, the risks of potential
liability and adequacy of insurance; adverse changes in the
Company’s relationships with suppliers, vendors, and
subcontractors; compliance with environmental, health, safety and
other related laws and regulations; limitations or modifications to
indemnification regulations of the U.S. or Canada; the Company’s
expected financial condition, future cash flows, results of
operations and future capital and other expenditures; the impact of
general economic conditions including the current economic
disruption and any recession resulting from the COVID-19 pandemic;
the impact of the COVID-19 pandemic on the Company’s business,
results of operations, financial condition, and cash flows,
including the potential for additional COVID-19 cases to occur at
the Company’s active or future job sites, which potentially could
impact cost and labor availability; information technology
vulnerabilities and cyberattacks on the Company’s networks; the
Company’s failure to comply with applicable laws and regulations,
including, but not limited to, those relating to privacy and
anti-bribery; the Company’s participation in multiemployer pension
plans; the impact of any disruptions resulting from the expiration
of collective bargaining agreements; the impact of natural
disasters and other severe catastrophic events (such as the ongoing
COVID-19 pandemic); the impact of changes in tax regulations and
laws, including future income tax payments and utilization of net
operating loss and foreign tax credit carryforwards; volatility of
the market price for the Company’s common stock; the Company’s
ability to maintain its stock exchange listing; the effects of
anti-takeover provisions in the Company’s organizational documents
and Delaware law; the impact of future offerings or sales of the
Company’s common stock on the market price of such stock; expected
outcomes of legal or regulatory proceedings and their anticipated
effects on the Company’s results of operations; and any other
statements regarding future growth, future cash needs, future
operations, business plans and future financial results.
Other important factors that may cause actual results to differ
materially from those expressed in the forward-looking statements
are discussed in the Company’s filings with the U.S. Securities and
Exchange Commission, including the section of the Annual Report on
Form 10-K for its 2020 fiscal year titled “Risk Factors.” Any
forward-looking statement speaks only as of the date of this press
release. Except as may be required by applicable law, the Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, and you are cautioned not to rely upon
them unduly.
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version on businesswire.com: https://www.businesswire.com/news/home/20210601005204/en/
Investor Contact: Chris Witty Darrow Associates
646-345-0998 cwitty@darrowir.com
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