Sterling Construction Company, Inc. Awarded $26 Million Road Project in Frisco, Texas
September 11 2017 - 4:37PM
Business Wire
Sterling Construction Company, Inc. (NasdaqGS:STRL) (“Sterling”
or the "Company”) today announced that its Texas Sterling
Construction Co. (“TSC”) subsidiary is the apparent low bidder on a
$26.6 million project in Frisco, Texas. The City of Frisco Main
Street project consists of widening a three mile section of Main
Street from FM 423 to Dallas Parkway from four lanes to six lanes,
while also improving the road’s storm drainage. In addition, the
project includes all the preliminary infrastructure required for
future underground electric transmission lines as well as over
14,000 linear feet of water distribution lines. The project is
scheduled to begin later this month, and is expected to be
completed by the spring of 2019.
Joe Cutillo, Sterling’s Chief Executive Officer, commented, “We
are pleased to have been selected by the City of Frisco to increase
the capacity of an existing section of Main Street. The population
of Frisco, Texas continues to grow rapidly, and this project will
help ease traffic congestion and make driving conditions safer.
This project leverages our capabilities in both municipal road
construction and underground water transmision, and is a great
strategic fit for our Texas Business.”
Sterling is a leading heavy civil construction company that
specializes in the building and reconstruction of transportation
infrastructure, water infrastructure, and residential and
commercial concrete projects in Texas, Utah, Nevada, Colorado,
Arizona, California, Hawaii and other states in which there are
construction opportunities. Its heavy civil construction projects
include highways, roads, bridges, airfields, ports, light rail,
water, wastewater and storm drainage systems and multi-family
homes, commercial projects and parking structures. Its residential
concrete 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: http://www.businesswire.com/news/home/20170911006250/en/
Sterling Construction Company, Inc.Jennifer Maxwell,
281-951-3560Director of Investor RelationsorInvestor Relations
Counsel:The Equity Group Inc.Fred Buonocore, CFA,
212-836-9607orKevin Towle, 212-836-9620
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