THE WOODLANDS, TX – September 15, 2014 – Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its subsidiary, J. Banicki Construction (“JBC”), was the selected bidder on the Terminal 4, North Apron Reconstruction Project for the City of Phoenix at Sky Harbor International Airport with a value of approximately $26 million. The project, which was awarded using a construction-manager-at-risk (“CMAR”) method, will entail the removal and replacement of approximately 180,000 square yards (37 acres) of 20 inch thick concrete apron in a highly active air operations area. Construction is anticipated to start in mid-2015 and take approximately three years to complete.
Peter MacKenna, Sterling’s Chief Executive Officer, commented, “This award supplements our current Sky Harbor work and adds to our aviation infrastructure backlog. We are pleased that our strategy to pursue alternative delivery method projects continues to bear fruit.”
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.