THE WOODLANDS, TEXAS--(BUSINESS WIRE)--
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its subsidiary, Ralph L. Wadsworth Construction Company, LLC (“RLW”) has been selected by the Utah Department of Transportation (“UDOT”) to perform construction work in the area of Exit 16 on I-15 in Washington County, UT near Zion National Park. The $23 million job is expected to be completed late this year.
The project will be executed in several phases in order to minimize its impact on traffic, given the heavy utilization of this I-15 interchange. Key elements of the job will include the excavation of approximately 200,000 cubic yards of soil and rock and laying 70,000 tons of asphalt paving. In addition, RLW will replace two bridges, as well as a number of retaining walls, in addition to making improvements to drainage, signage and landscaping.
Joe Cutillo, Sterling’s CEO commented, “This is another great win for our Utah team. We have completed several important projects for UDOT in recent years and are pleased to have once again been selected to help enhance the state’s roadways. We’re particularly gratified to be involved in making these significant improvements to the I-15 Exit 16 interchange since, once completed, our work will reduce congestion and enhance safety for the large number of travelers that visit the area’s many recreational areas, including Zion National Park.”
Sterling, a Delaware corporation, is a construction company that specializes in heavy civil infrastructure construction and infrastructure rehabilitation as well as residential construction projects, primarily in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah and other states in which there are feasible construction opportunities. 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. 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.
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