THE WOODLANDS, TX – May 24, 2018 – Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or the "Company”) today announced that its subsidiary Texas Sterling Construction Co. (“TSC”) was selected by the Texas Department of Transportation to upgrade and expand the frontage roads along State Highway 73 near Winnie, TX. The $18.7 million project consists of 2.5 miles of new subgrade and asphalt overlay, and the building of a grade separation at the interchange between State Highway 73 and State Highway 124. The project is scheduled to begin in late summer 2018 and is expected to take 26 months to complete.
Joe Cutillo, Sterling’s Chief Executive Officer, commented, “This project award strengthens our backlog in the Texas region and fits within our core competency in asphalt work, frontage road replacement and grade separation construction. The interchange between State Highway 73 and State Highway 124 is notorious for being very dangerous, with many accidents taking place over the years. This project is in an area impacted substantially by Hurricane Harvey and we are pleased to be part of the efforts in building an overpass and reconfiguring the intersection that should assist in better traffic flow and improved safety in the area while still maintaining the existing right of way.”
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