THE WOODLANDS, Texas–(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 reconstruct an eight mile portion of Texas State
Highway 34 near Kaufman, TX. The $33 million project entails the
reconstruction of an existing two-lane roadway into a new two-lane
roadway with shoulders and includes the demolition and replacement of
five existing bridge structures. The project is scheduled to commence in
July of 2019, with completion targeted for the second quarter of 2022.
Joe Cutillo, Sterling’s CEO, commented, “This project award is a great
example of the types of projects we target in the Texas heavy highway
market as it aligns well with TSC’s core competencies including asphalt
and bridge construction. This stretch of State Highway 34 is becoming
increasingly more congested as nearby Dallas-Fort Worth continues to
grow in population, so our efforts in adding shoulders and replacing
bridges will provide commuters a safer roadway for years to come.”
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.
Contacts
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
Kevin Towle 212-836-9620
