Sterling Awarded $20.3 Million Project by CalTrans
March 31 2020 - 8:45AM
Business Wire
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling”
or “the Company”) today announced that its subsidiary, Myers &
Sons Construction, LLC (“Myers”) was selected by the California
Department of Transportation (“CalTrans”) for a bridge project in
San Francisco. The $20.3 million project entails replacing bridge
decks, concrete barriers, and railings, along with installation of
carbon fiber wrap around the existing bridge columns at the Alemany
Circle Undercrossing. The job is expected to be completed by the
end of 2020.
Joe Cutillo, Sterling’s CEO, commented, “The Alemany Circle
Undercrossing is a bridge along a busy stretch of California State
Highway SR 101 that is beginning to show significant signs of
deterioration. Our Myers operation specializes in bridge
restoration and, once completed, their work on this project will
greatly improve the safety, quality, and comfort of the ride for
motorists in the Bernal Heights area of San Francisco. We are
pleased to once again be working with CalTrans on the improvement
of California’s highway infrastructure.”
Sterling, a Delaware corporation, operates through three
operating groups specializing in heavy civil, specialty services
and residential projects in the United States, primarily across the
southern U.S., the Rocky Mountain States, California and Hawaii, as
well as other areas with strategic opportunities. Heavy civil
includes infrastructure and rehabilitation projects for highways,
roads, bridges, airfields, ports, light rail, water, wastewater and
storm drainage systems. Specialty services projects include site
excavation and improvement, foundations for multi-family homes,
parking structures and other commercial concrete projects. Site
excavation and improvement entails construction site preparation
primarily in the Southeast region of the United States for
blue-chip customers in the distribution center, warehousing,
e-commerce, data center, big box retail and energy sectors, as well
as other growing end markets. Residential projects include concrete
foundations for single-family homes in Texas.
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/20200331005170/en/
Sterling Construction Company, Inc. Ron Ballschmiede, Chief
Financial Officer 281-214-0777
Investor Relations Counsel: The Equity Group Inc. Fred
Buonocore, CFA 212-836-9607 Mike Gaudreau 212-836-9620
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