Sterling Awarded a Utah Department of Transportation Highway Contract Valued at Approximately $23 Million
April 22 2019 - 9:00AM
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190422005030/en/
Sterling Construction Company, Inc.Ron Ballschmiede, Chief
Financial Officer281-214-0800
Investor Relations Counsel:The Equity Group Inc.Fred
Buonocore, CFA 212-836-9607Kevin Towle 212-836-9620
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