Sterling Awarded a $33 Million Kaufman, TX Highway Project
May 28 2019 - 9:00AM
Business Wire
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling”
or “the Company”) today announced that its subsidiary, Texas
Sterling Construction Co. (“TSC”) was selected by the Texas
Department of Transportation to reconstruct an eight mile portion
of Texas State Highway 34 near Kaufman, TX. The $33 million project
entails the reconstruction of an existing two-lane roadway into a
new two-lane roadway with shoulders and includes the demolition and
replacement of five existing bridge structures. The project is
scheduled to commence in July of 2019, with completion targeted for
the second quarter of 2022.
Joe Cutillo, Sterling’s CEO, commented, “This project award is a
great example of the types of projects we target in the Texas heavy
highway market as it aligns well with TSC’s core competencies
including asphalt and bridge construction. This stretch of State
Highway 34 is becoming increasingly more congested as nearby
Dallas-Fort Worth continues to grow in population, so our efforts
in adding shoulders and replacing bridges will provide commuters a
safer roadway for years to come.”
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/20190528005074/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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