THE WOODLANDS, TX – August 26, 2014 – Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its affiliate, Myers & Sons Construction (“Myers”), was apparent low bidder on the California Department of Transportation (“CalTrans”) Las Virgenes Canyon Road project in LA County on Route 101 with a bid of $53,645,672. The project will consist of replacing 30,850 CY of failing concrete from Calabasas (PM 28.3) to Agoura Hills (PM 31.1) in Southern California with 9,900 CY of Lean Concrete Base and 20,950 CY Precast Jointed Concrete Pavement during weekend closures. The project also calls for placing 191,000 Tons of Rubberized Asphalt Pavement at various locations along Hwy 101. Construction is anticipated to start in late 2014 and take approximately 18 months to complete.
Peter MacKenna, Sterling’s Chief Executive Officer, commented, “This project demonstrates our continued success in expanding our operations in California, where Myers is the largest pre-cast panel contractor in the state. The Las Virgenes Canyon Road is an important link that runs through a large wildlife park between suburban communities north of Los Angeles and its repair and enhancement will improve driving and traffic conditions for the areas’ motorists.”
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 construction opportunities. Its transportation infrastructure projects include highways, roads, bridges and light rail and 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.