Sterling Construction Company, Inc. Road And Highway Builders, Awarded Approximately $14M Department Of Transportation Project In Hawaii
THE WOODLANDS, TX
October 7, 2015
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or the “Company”) today announced that its affiliate, Road and Highway Builders, LLC was awarded a $13.9 million Hawaii Department of Transportation (HDOT) project to perform reconstruction work on the King Kamanhameha Highway on the North Shore of Oahu. The project is expected to commence in the fourth quarter of 2015 with a construction duration of approximately one year. It will entail the cold milling and paving of a 10-mile stretch of the highway, along with the reconstruction of four bridges.
Paul J. Varello, Sterling’s Chief Executive Officer, commented, “We began a much smaller project implementing safety improvements on the King Kamanhameha Highway in February 2015. We are pleased that our solid execution on this job has led to a larger contract award and we are looking forward to collaborating with HDOT on what will be a significant upgrade to this important stretch of roadway in Oahu.”
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 profitable construction opportunities. Its transportation infrastructure projects include highways, roads, bridges and light rail. 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.