Sterling Construction Company, Inc. Is Selected As Major Subcontractor For The Balfour Beatty/Graham Contracting JV On A Denver, CO Bridge Project Valued At Approximately $29M
THE WOODLANDS, TX
April 9, 2015
Sterling’s Portion of the Project Valued at $29 Million
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its subsidiary, Ralph L. Wadsworth Construction Company, LLC (“RLW”) was selected as a major subcontractor for a joint venture between Balfour Beatty and Graham Contracting on construction of the Skyway Bridge for North Metro Rail in Denver, CO. Construction of the bridge, 9,800 feet in length, is planned to begin in May 2015 and to take two years to complete. RLW’s portion of the project has a value of approximately $29 million.
Paul J. Varello, Sterling’s CEO commented, “We are pleased to have been selected to work on the Skyway Bridge. We have been very successful in wining major rail projects in Colorado over the last several years, which we believe is indicative of RLW’s expertise in this construction specialty. We are looking forward to working with the Balfour Beatty/Graham Contracting JV on this project and hope to have additional opportunities to work with them in the near future.”
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.