Sterling Construction Company, Inc. Awarded $21.3M Transportation Project In Pearland, TX
THE WOODLANDS, TX
July 15, 2015
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that it was the low bidder on a $21.3 million roadway project for the City of Pearland, Texas, a large suburb of Houston. The project consists of widening a 2.8 mile section of Bailey Road from two 10-foot wide lanes to four 12-foot wide lanes. Additionally, the project scope includes drainage improvements and the construction of a 10-foot wide shared-use path for pedestrians and cyclists. The project is expected to commence in August 2015 and be completed by mid-2017.
Paul J. Varello, Sterling’s Chief Executive Officer, commented, “We are proud to have been selected for this important project which will reduce traffic congestion and commute times while also providing a pathway for walkers and cyclists. Texas remains a very important and sizeable market for Sterling and this project is representative of the type of opportunities that we are pursuing throughout the state.”
Sterling is a leading heavy civil construction company that specializes in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii, and other states where there are construction opportunities. Its transportation infrastructure projects include highways, roads, bridges and light rail and its water infrastructure projects include water, wastewater and storm drainage systems.
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.