Sterling Construction Company Inc. Awarded $18 Million Dallas County, TX Project
THE WOODLANDS, TX
August 27, 2018
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or the “Company”) today announced that its subsidiary Texas Sterling Construction Co. (“TSC”) was selected by Dallas County to widen a portion of Pleasant Run Road. The $18 million project consists of widening from a two lane to a four-lane divided roadway including intersection improvements. The project scope also includes enhancements to sewage lines, signal and signage, and upgraded pavement markings. The project is scheduled to begin in late August, and will be complete by April of 2020.
“As we’ve seen across multiple business lines, Dallas County and the surrounding Dallas-Fort Worth metroplex continues to grow at a historic pace,” stated Joe Cutillo, Sterling’s Chief Executive Officer. “This portion of Pleasant Run Road runs east-west from Lancaster, TX to Wilmer, TX, which represents a busy and important connector between several north-south running roadways, including I-35 and I-45. We are pleased to be part of this widening and improvement project as our efforts will not only alleviate traffic conditions, but will also improve the local water infrastructure with new storm drainage systems and gravity sewer lines. This project exemplifies the healthy status of the Texas heavy civil market, which continues to provide Sterling project opportunities that utilize our core capabilities, meet our disciplined profitability standards, and offer long-term visibility.”
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.