News | October 1, 2018

Sterling Construction Company, Inc. Is The Selected Contractor For A Sky Harbor International Airport CMAR Project Valued At Approximately $12M

THE WOODLANDS, TEXAS--(BUSINESS WIRE)--

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 $12 million. The project, which was awarded using a Construction Manager At Risk (“CMAR”) method, will entail the removal and replacement of approximately 34,000 square yards of 18-inch thick concrete apron in a highly active air operations area. Construction is anticipated to start in October 2018 and take approximately one year to complete.

Joe Cutillo, Sterling’s Chief Executive Officer, commented, “This award is for the fourth phase of the Sky Harbor Airport Terminal 4 reconstruction that we began in mid-2015. Our selection by the City of Phoenix for continued work at Sky Harbor is indicative of our extensive capabilities and competence with aviation infrastructure work, which is an important element of our strategy to increase Sterling’s overall mix of business in attractive adjacent heavy civil construction markets.”

Sterling is a construction company that specializes in heavy civil construction and residential concrete projects primarily in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah and other states in which there are feasible construction opportunities. Our heavy civil construction projects include highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects and parking structures. Our residential construction 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.


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