Sterling Awarded $20.8 Million Highway Project In Nevada
THE WOODLANDS, TX
April 22, 2021
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its subsidiary, Road and Highway Builders, LLC (“RHB”), has been awarded a $20.8 million heavy civil contract by the Nevada Department of Transportation (“NDOT”) for the reconstruction of 25 miles of I-80 in Pershing County, Nevada.
The reconstruction of this stretch of I-80 consists of asphalt paving, along with eight bridge widenings to reduce traffic congestion and improve safety.
“We are glad to have the opportunity to help NDOT reduce congestion and improve the safety of I-80,” stated Joe Cutillo, Sterling’s CEO. “I-80 is a critical commercial shipping route for cross-country travel and cannot be hindered for long periods of time. Our selection was driven by our ability to handle fast-tracked jobs and meet the aggressive time frame required by NDOT. This is yet another example of our focus of bringing added value to our customers and our efficacy to win jobs.”
Sterling Construction Company, Inc. operates through a variety of subsidiaries within three segments specializing in Heavy Civil, Specialty Services and Residential projects in the United States (the “U.S.”), primarily across the southern U.S., the Rocky Mountain States, California and Hawaii, as well as other areas with strategic construction 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 construction site excavation and drainage, drilling and blasting for excavation, foundations for multi-family homes, parking structures and other commercial concrete projects. Residential 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.
Sterling Construction Company, Inc.
Ron Ballschmiede, Chief Financial Officer
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The Equity Group Inc.
Fred Buonocore, CFA 212-836-9607
Mike Gaudreau 212-836-9620