THE WOODLANDS, TX – January 25, 2018 – Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or the "Company”) today announced that its Texas Sterling Construction Co. (“TSC”) subsidiary was selected by the Harris County Toll Road Authority (“HCTRA”) to construct an underpass at Lorraine Street in Houston, TX in order to facilitate the future extension of the Hardy Toll Road. The $21.6 million project consists of over 200,000 cubic yards of excavation, 13,000 square yards of concrete pavement and construction of a drilled shaft retaining wall and box culvert drainage. The project also consists of a pump station and various electrical, signage and pavement marking requirements. Work on the Lorraine Street Underpass is scheduled to begin in late March 2018, and is expected to be completed by June of 2019.
Joe Cutillo, Sterling’s Chief Executive Officer, commented, “The construction of the Lorraine Street Underpass will utilize several of TSC’s core capabilities including concrete work and self-performed large drilled shaft retaining wall installation. We are pleased to be part of this important project that will allow for an uninterrupted flow of traffic between streets and make it safer and faster for pedestrians, motorists, emergency vehicles and school buses to cross this intersection.”
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.