Sterling Construction Company, Inc. Awarded $17 Million Los Angeles County Sanitation District Water Reclamation Plant Project
October 09 2018 - 8:45AM
Business Wire
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling”
or “the Company”) today announced that Myers & Sons
Construction LLC, a consolidated affiliate, was awarded a contract
by the Los Angeles County Sanitation District for additions and
modifications to their Valencia Water Reclamation Plant in
Valencia, CA. This $17 million project entails the addition of
Ultraviolet (UV) Disinfection Facilities and ancillary systems that
would allow for further treatment of the influent wastewater. In
addition, Myers' work consists of a ground-up installation of
several concrete structures, including a Flow Diversion Structure,
UV Wetwell, UV Reactor Basin, and multiple junction structures.
Construction is anticipated to start in November of 2018 and take
approximately 24 months to complete.
Joe Cutillo, Sterling’s Chief Executive Officer, commented,
“This project fits in well with Myers’ core competencies, as the
company has previously executed successful water infrastructure
projects in California and Colorado. As we look to continue to
increase Sterling’s overall mix of business in attractive adjacent
markets, this award further strengthens our momentum in executing
this strategy. The Valencia Water Reclamation Plant reduces Los
Angeles County’s dependence on costly imported water and helps to
replenish a large percentage of the groundwater used by the region.
Due to the plant’s important role in protecting public health and
the environment through innovative and cost effective water
infrastructure, we are proud to have been chosen to modify critical
plant structures and systems.”
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/20181009005121/en/
Sterling Construction Company, Inc.Jennifer Maxwell, Director of
Investor Relations281-951-3560orInvestor Relations
Counsel:The Equity Group Inc.Fred Buonocore, CFA
212-836-9607Kevin Towle 212-836-9620
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