Sterling Construction Company, Inc. Awarded $15.8 Million Coppell, TX Project
THE WOODLANDS, TX
February 28, 2018
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or the “Company”) today announced that its Texas Sterling Construction Co. (“TSC”) subsidiary was selected by the City of Coppell to reconstruct the Freeport Parkway in Coppell, TX. The $15.8 million project is a 1.2 mile long stretch that adjoins Interstate 635. The major improvements consist of replacing all exiting pavement, water and wastewater infrastructure as well as replacing the existing 300 foot bridge over Grapevine Creek. Work on the Freeport Parkway is scheduled to begin during the spring of 2018, and is expected to take 18 months to complete.
Joe Cutillo, Sterling’s Chief Executive Officer, commented, “The reconstruction of the Freeport Parkway demonstrates the versatility that our TSC business provides including concrete work, water infrastructure improvement, and bridge construction. In addition, our bid was slightly under the second Bidder, which is indicative of our disciplined approach at the bid table. We are excited to be part of a project in a growing suburb of the Dallas-Fort Worth Metroplex that will ultimately improve drainage and sewer lines and traffic flow for motorists.”
Sterling is a construction company that specializes in heavy civil construction and residential concrete projects primarily in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah and other states in which there are feasible construction opportunities. Our 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. Our 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.