Sterling Awarded a $23.4 Million Springtown, TX Highway Project
16 July 2019 - 10:45PM
Business Wire
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling”
or “the Company”) today announced that its subsidiary, Texas
Sterling Construction Co. was selected by the Texas Department of
Transportation to reconstruct a one-and-a-half mile portion of FM
51 near Springtown, TX. The $23.4 million project entails the
reconstruction of an asphalt roadway into a three-lane concrete
roadway with shoulders, along with the reconstruction of a bridge
and the installation of new drainage and other related
infrastructure. The project is scheduled to commence in the third
quarter of 2019 and is expected to be completed in late 2021.
Joe Cutillo, Sterling’s CEO, commented, “This project is a great
example of how Sterling improves people’s lives by reducing
congestion while making the roads safer. It aligns well with our
core competencies including concrete and bridge construction, as
well as our mission to make roads as reliable and accessible as
possible. As highways around the Dallas-Fort Worth area become
increasingly overcrowded due to population growth, providing
drivers with convenient alternate routes is paramount. Adding both
lanes and shoulders to this stretch of FM 51 will not only decrease
congestion, but will also help to promote better safety for
motorists.”
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/20190716005314/en/
Sterling Construction Company, Inc. Ron Ballschmiede, Chief
Financial Officer 281-214-0800
Investor Relations Counsel: The Equity Group Inc. Fred
Buonocore, CFA 212-836-9607
Mike Gaudreau 212-836-9620
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