THE WOODLANDS, TX – September 11, 2017 – Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or the "Company”) today announced that its Texas Sterling Construction Co. (“TSC”) subsidiary is the apparent low bidder on a $26.6 million project in Frisco, Texas. The City of Frisco Main Street project consists of widening a three mile section of Main Street from FM 423 to Dallas Parkway from four lanes to six lanes, while also improving the road’s storm drainage. In addition, the project includes all the preliminary infrastructure required for future underground electric transmission lines as well as over 14,000 linear feet of water distribution lines. The project is scheduled to begin later this month, and is expected to be completed by the spring of 2019.
Joe Cutillo, Sterling’s Chief Executive Officer, commented, “We are pleased to have been selected by the City of Frisco to increase the capacity of an existing section of Main Street. The population of Frisco, Texas continues to grow rapidly, and this project will help ease traffic congestion and make driving conditions safer. This project leverages our capabilities in both municipal road construction and underground water transmision, and is a great strategic fit for our Texas Business.”
Sterling is a leading heavy civil construction company that specializes in the building and reconstruction of transportation infrastructure, water infrastructure, and residential and commercial concrete projects in Texas, Utah, Nevada, Colorado, Arizona, California, Hawaii and other states in which there are construction opportunities. Its heavy civil construction projects include highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems and multi-family homes, commercial projects and parking structures. Its residential concrete 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.