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Sterling Construction Company, Inc. Awarded $18 Million Utah Department Of Transportation Project


February 28, 2018

Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its subsidiary, Ralph L. Wadsworth Construction Company, LLC (“RLW”) was selected by the Utah Department of Transportation (“UDOT”) to widen the westbound section of I-80 from Jeremy Ranch to Summit Park, Utah. The project is valued at approximately $18 million.

RLW will be responsible for adding a passing lane 2.57 miles long to improve traffic flow and safety with slower moving heavy hauls and semi-trucks climbing the summit. The project also involves rehabilitating both eastbound and westbound structures of I-80 near Jeremy Ranch including the replacement of parapets and overhangs, and the repair of bridge decks and substructures. In addition, the project includes the installation of a new drainage system and a new brake check area. Lastly, RLW will construct UDOT’s first ever wildlife bridge. The 322 foot long bridge spans over I-80 west of Summit Park and will connect with miles of wildlife fencing to allow for safe passage of wildlife in the area. The project will take eight months to complete, beginning in the spring of 2018 and finishing during the latter part of the fall.

Joe Cutillo, Sterling’s CEO, commented, “This award further strengthens our backlog in the Utah region, and will showcase RLW’s expertise in bridge building, and highway rehabilitation. The widening of I-80 is a critical step towards enhancing driver safety as this portion of the road is very steep and has a high volume of long-haul trucks. We’re particularly excited about constructing UDOT’s first ever wildlife bridge. This stretch of I-80 frequently has large animals crossing the freeway, putting both drivers and wildlife at risk. The bridge will include a comprehensive aesthetic package which attempts to blend the structure into the natural surroundings. Once connected to the existing wildlife fence, this project will ultimately reduce the number of wildlife-vehicle collisions.”

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.

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