Sterling Announces a $216 Million Transportation Solutions Design-Build Award
21 Juillet 2023 - 2:30PM
Business Wire
Sterling Infrastructure, Inc. (NasdaqGS: STRL) (“Sterling” or
“the Company”) today announced that Ralph L. Wadsworth Construction
Company, LLC (RLW), together with its joint venture partner W.W.
Clyde & Co., Inc., has been awarded a $216 million design-build
contract for the Bangerter South Highway Interchanges Project by
the Utah Department of Transportation (UDOT). RLW is the Managing
Partner of the joint venture with 55% share. The award will be
included in June 30, 2023 backlog.
The Bangerter South Highway Interchanges Project is part of the
Utah Department of Transportation’s multi-year capital program to
improve traffic flow and safety on one of Utah’s most heavily
traveled North-South Corridors. The scope of the award includes
three interchanges, bringing the total number of interchanges
awarded to RLW under this capital program to twelve. Design will
start immediately with bridge construction and other work beginning
in the fall/winter 2023. The project is estimated to complete by
the end of 2025.
CEO Remarks “We are pleased UDOT has again selected us a
trusted partner for another phase of this critical infrastructure
project,” stated Joe Cutillo, Sterling’s CEO. “Our core Rocky
Mountain region remains very active, driven by population growth,
state-level funding, and contributions from the Infrastructure
Bill. We remain focused on the pursuit of differentiated,
higher-margin alternative delivery highway work, driving the
ongoing transformation of our Transportation Solutions
business.”
About Sterling Sterling Infrastructure, Inc.,
(“Sterling,” “the Company,” “we,” “our” or “us”), a Delaware
corporation, operates through a variety of subsidiaries within
three segments specializing in E-Infrastructure, Transportation and
Building Solutions in the United States, primarily across the
Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and
Hawaii. E-Infrastructure Solutions provides advanced, large-scale
site development services for manufacturing, data centers,
e-commerce distribution centers, warehousing, energy and more.
Transportation Solutions includes infrastructure and rehabilitation
projects for highways, roads, bridges, airports, ports, rail and
storm drainage systems. Building Solutions projects include
residential and commercial concrete foundations for single-family
and multi-family homes, parking structures, elevated slabs and
other concrete work. From strategy to operations, we are committed
to sustainability by operating responsibly to safeguard and improve
society’s quality of life. Caring for our people and our
communities, our customers and our investors – that is The Sterling
Way.
Joe Cutillo, CEO, "We build and service the
infrastructure that enables our economy to run, our people to move
and our country to grow."
Important Information for Investors and Stockholders
Cautionary Statement Regarding Forward-Looking Statements This
press release contains statements that are considered
forward-looking statements within the meaning of the federal
securities laws. Any such statements are subject to risks and
uncertainties, 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. The
forward-looking statements speak only as of the date made, and we
undertake no obligation to publicly update or revise any
forward-looking statements for any reason, whether as a result of
new information, future events or developments, changed
circumstances, or otherwise, notwithstanding any changes in our
assumptions, changes in business plans, actual experience or other
changes. These cautionary statements qualify all forward-looking
statements attributable to us or persons acting on our behalf.
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version on businesswire.com: https://www.businesswire.com/news/home/20230721367780/en/
Sterling Infrastructure, Inc. Noelle Dilts, VP of Investor
Relations and Corporate Strategy 281-214-0795
Noelle.dilts@strlco.com
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