Sterling Construction Company, Inc. is the Selected Contractor for Multiple Airport Projects Valued at More Than $65 Million
October 11 2016 - 8:45AM
Business Wire
Sterling Construction Company, Inc. (NasdaqGS:STRL) (“Sterling”
or the "Company”) today announced that its subsidiaries, Ralph L.
Wadsworth Construction Company, LLC (“RLW”) and J. Banicki
Construction, Inc. (“Banicki”) have been awarded $65 million
in projects in Utah and Arizona.
The first project, located at Salt Lake City International
Airport, is valued at nearly $34 million and consists of all
concrete work associated with the Terminal, South Concourse West,
Gateway Buildings and associated tunnels. Construction will begin
in December of 2016 and is expected to be completed within 2
years.
The second project award, also at Salt Lake City International
Airport, is valued at approximately $17 million. The project scope
is part of the deep foundation package and includes more than
225,000 linear feet of concrete-filled steel pipe piles ranging in
depth from 60 to 120 feet. Construction is scheduled to
start in December of 2016 and is expected to be completed by the
summer of 2017.
The remaining airport projects are located mainly at Phoenix Sky
Harbor International Airport in Arizona and have a combined value
of more than $14 million. The scope of work on these projects
consists of the removal and replacement of the north side of
Terminal 4, which is one of the busiest taxiways at Sky Harbor
Airport. The project will overlap the current American Airlines
re-gating project and is expected to take 13 months to
complete.
Paul J. Varello, Sterling’s Chief Executive Officer, commented,
“We are very pleased to have been selected for these important
airport projects in Utah and Arizona. These new awards exemplify
our strategic focus and help us increase our backlog and track
record in the aviation infrastructure market. We plan to
aggressively pursue similar projects in the coming years as air
travel continues to grow across the country.”
Sterling is a leading heavy civil construction company that
specializes in the building and reconstruction of transportation
and water infrastructure projects in Texas, Utah, Nevada, Colorado,
Arizona, California, Hawaii, and other states in which there are
construction opportunities. Its transportation infrastructure
projects include highways, roads, bridges, airfields, ports and
light rail. Its water infrastructure projects include water,
wastewater and storm drainage systems.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161011005085/en/
Sterling Construction Company, Inc.Jennifer Maxwell,
281-951-3560Director of Investor RelationsorInvestor Relations
Counsel:The Equity Group Inc.Fred Buonocore 212-836-9607orKevin
Towle 212-836-9620
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