Sterling Construction Company, Inc. Awarded $28 Million Ellis County, TX Project
June 19 2018 - 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 widen a portion of FM 664 in Ellis
County, TX. The $28 million project consists of widening from a two
lane to a six-lane urban divided highway including intersection
improvements on approximately four miles. The project scope
includes also enhancements to drainage, signal and signage to
improve the safety of the intersection. The project is scheduled to
begin in late August, and is expected to take 20 months to
complete.
“Ellis County, which is part of the Dallas-Fort Worth metroplex,
is one of the fastest growing counties in Texas,” stated Joe
Cutillo, Sterling’s Chief Executive Officer. “FM 664 is an
important roadway that runs east-west through a very busy
commercial district in the Red Oak area and is a connector between
several north-south running roadways, including I-35. We are
pleased to be part of this widening and improvement project as it
will serve to ease traffic and improve safety for the rapidly
increasing number of area residents. From a strategic perspective
the Texas heavy civil market remains an important element of
Sterling’s overall business and this project, which utilizes a
variety of our core capabilities, represents the type of TxDOT job
that we can execute profitably with strong visibility over the next
two years.”
Sterling is a construction company that specializes in heavy
civil construction and residential concrete projects primarily in
Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah and
other states in which there are feasible construction
opportunities. Our 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. Our
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/20180619005238/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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