Sterling Construction Company, Inc. Awarded $17 Million Los Angeles County Sanitation District Water Reclamation Plant Project
THE WOODLANDS, TX
October 9, 2018
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that Myers & Sons Construction LLC, a consolidated affiliate, was awarded a contract by the Los Angeles County Sanitation District for additions and modifications to their Valencia Water Reclamation Plant in Valencia, CA. This $17 million project entails the addition of Ultraviolet (UV) Disinfection Facilities and ancillary systems that would allow for further treatment of the influent wastewater. In addition, Myers’ work consists of a ground-up installation of several concrete structures, including a Flow Diversion Structure, UV Wetwell, UV Reactor Basin, and multiple junction structures. Construction is anticipated to start in November of 2018 and take approximately 24 months to complete.
Joe Cutillo, Sterling’s Chief Executive Officer, commented, “This project fits in well with Myers’ core competencies, as the company has previously executed successful water infrastructure projects in California and Colorado. As we look to continue to increase Sterling’s overall mix of business in attractive adjacent markets, this award further strengthens our momentum in executing this strategy. The Valencia Water Reclamation Plant reduces Los Angeles County’s dependence on costly imported water and helps to replenish a large percentage of the groundwater used by the region. Due to the plant’s important role in protecting public health and the environment through innovative and cost effective water infrastructure, we are proud to have been chosen to modify critical plant structures and systems.”
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.