Sterling Awarded a Utah Department of Transportation Highway Contract Valued at Approximately $23 Million
THE WOODLANDS, Texas–(BUSINESS WIRE)–Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the
Company”) today announced that its subsidiary, Ralph L. Wadsworth
Construction Company, LLC (“RLW”) has been selected by the Utah
Department of Transportation (“UDOT”) to perform construction work in
the area of Exit 16 on I-15 in Washington County, UT near Zion National
Park. The $23 million job is expected to be completed late this year.
The project will be executed in several phases in order to minimize its
impact on traffic, given the heavy utilization of this I-15 interchange.
Key elements of the job will include the excavation of approximately
200,000 cubic yards of soil and rock and laying 70,000 tons of asphalt
paving. In addition, RLW will replace two bridges, as well as a number
of retaining walls, in addition to making improvements to drainage,
signage and landscaping.
Joe Cutillo, Sterling’s CEO commented, “This is another great win for
our Utah team. We have completed several important projects for UDOT in
recent years and are pleased to have once again been selected to help
enhance the state’s roadways. We’re particularly gratified to be
involved in making these significant improvements to the I-15 Exit 16
interchange since, once completed, our work will reduce congestion and
enhance safety for the large number of travelers that visit the area’s
many recreational areas, including Zion National Park.”
Sterling, a Delaware corporation, is a construction company that
specializes in heavy civil infrastructure construction and
infrastructure rehabilitation as well as residential construction
projects, primarily in Arizona, California, Colorado, Hawaii, Nevada,
Texas, Utah and other states in which there are feasible construction
opportunities. Heavy civil construction projects include highways,
roads, bridges, airfields, ports, light rail, water, wastewater and
storm drainage systems, foundations for multi-family homes, commercial
concrete projects and parking structures. Residential construction
projects include concrete foundations for single-family homes.
This press release includes certain statements that fall within the
definition of “forward-looking statements” under the Private Securities
Litigation Reform Act of 1995. Any such statements are subject to risks
and uncertainties, including overall economic and market conditions,
federal, state and local government funding, competitors’ and customers’
actions, and weather conditions, which could cause actual results to
differ materially from those anticipated, including those risks
identified in the Company’s filings with the Securities and Exchange
Commission. Accordingly, such statements should be considered in light
of these risks. Any prediction by the Company is only a statement of
management’s belief at the time the prediction is made. There can be no
assurance that any prediction once made will continue thereafter to
reflect management’s belief, and the Company does not undertake to
update publicly its predictions or to make voluntary additional
disclosures of nonpublic information, whether as a result of new
information, future events or otherwise.
Sterling Construction Company, Inc.
Ron Ballschmiede, Chief
Investor Relations Counsel:
The Equity Group Inc.
Buonocore, CFA 212-836-9607
Kevin Towle 212-836-9620