Sterling Construction Company Affiliate, Myers & Sons Construction, Awarded $13M Water Project In Gilroy, California
THE WOODLANDS, TX
April 29, 2015
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or the “Company”) today announced that its affiliate, Myers & Sons Construction (“Myers”), was awarded a $13.4 million South County Regional Water Authority (“SCRWA”) project to expand the capacity of the water treatment facility in Gilroy, California. This expansion will involve the three primary areas of the plant including the construction of additional pre-anoxic basins, blower and aeration improvements to the oxidation ditch systems, and construction of a third secondary clarifier and RAS pump station. The project, which will utilize a bid-build delivery method, will commence in May 2015 and take approximately one year to complete.
Paul J. Varello, Sterling’s Chief Executive Officer, commented, “We are pleased to have been selected by the City of Gilroy to upgrade its existing water treatment infrastructure and we look forward to working with the SCRWA as we progress with our work over the coming year. From a longer term perspective, this project is indicative of the large and growing opportunity that the California market for water infrastructure construction represents. We believe that we are well positioned to win a number of these awards and, at the same time, help the state of California address its increasingly urgent water needs.”
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.