Sterling Construction Company, Inc. Awarded $30 Million Colorado Springs Utilities Water Treatment Facility Project
THE WOODLANDS, TX
March 27, 2018
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or the “Company”) today announced that Myers & Sons Construction LLC, a consolidated affiliate, is the apparent low bidder on a $30 million Colorado Springs Utilities water treatment facility project in Colorado Springs, Colorado. The project consists of an upgrade to the 43 million gallons per day Mesa Water Treatment Plant, and involves the construction of new pretreatment and chemical injection facilities designed to maintain the plant’s capacity and enable it to accept increased amounts of local water in the future. The project is scheduled to start in April of this year and is expected to be completed in May of 2020.
Joe Cutillo, Sterling’s CEO, commented, “Water treatment opportunities are an important element to our strategy to expand into adjacent markets across all of our geographies. Our previous success and capabilities developed on water treatment projects in California should translate well to our upgrade of the Mesa Water Treatment Plant, which is an important component of the water treatment infrastructure of Colorado Springs. We view this project as an excellent platform from which to grow our water treatment construction operations across the rapidly growing population centers along the Front Range of Colorado.”
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.