Sterling Announces Transportation Solutions $45 Million Aviation Award
THE WOODLANDS, TX
November 22, 2022
Sterling Infrastructure, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that Ralph L. Wadsworth Construction Company, LLC (RLW) was awarded the Phase 4 Terminal Redevelopment Program at the Salt Lake City International Airport.
The design package consists of the gate expansion for the new North Concourse. The project scope involves airfield and civil work to connect adjacent taxiways and includes extensive electrical work to update lighting and signage. In addition, the demolition of taxiways, aprons, utilities and other related infrastructure will be completed to make way for the new installations in the design layout.
“With this recent win, we have now been awarded in excess of $200 million of aviation projects with Salt Lake City’s department of airports over the last three years,” stated Joe Cutillo, Sterling’s CEO. “This award is yet another example of aligning our unparalleled performance with our strategic focus in our Transportation Solutions segment to expand our alternative delivery aviation business.”
Sterling operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States (the “U.S.”), primarily across the Southern, Northeastern, Mid-Atlantic and the Rocky Mountain States, California and Hawaii, as well as other areas with strategic construction opportunities. E-Infrastructure Solutions projects develop advanced, large-scale site development systems and services for data centers, e-commerce distribution centers, warehousing, transportation, energy and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater and storm drainage systems. Building Solutions projects include residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs and other concrete work. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society’s quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.
Joe Cutillo, CEO, “We build and service the infrastructure that enables our economy to run, our people to move and our country to grow.”
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 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. The forward-looking statements speak only as of the date made, and we undertake no obligation to publicly update or revise any forward-looking statements for any reason, whether as a result of new information, future events or developments, changed circumstances, or otherwise, notwithstanding any changes in our assumptions, changes in business plans, actual experience or other changes. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.
Sterling Infrastructure, Inc.
Ron Ballschmiede, Chief Financial Officer
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The Equity Group Inc.
Jeremy Hellman, CFA