THE
WOODLANDS, Texas, Feb. 25,
2025 /PRNewswire/ -- Sterling Infrastructure, Inc.
(NasdaqGS: STRL) ("Sterling" or
"the Company") today announced that Sterling's Ralph L.
Wadsworth (RLW) subsidiary has been awarded two significant
transportation projects:
- The I-15 1800 North Interchange project for the Utah Department
of Transportation (UDOT) will enhance regional mobility in Davis
County, Utah. The project has a total value of $195 million and is expected to begin in spring
2025 and continue through late 2027. RLW has a 60% interest in the
job, while joint venture partner Whitaker Construction holds the
remaining 40%. The project will be included in first quarter 2025
backlog.
- The I-25 North Corridor project is part of the Colorado
Department of Transportation's (CDOT) northern transportation
improvement project. The award has a total value of
$86 million and marks the next phase
of a multi-year project that began pre-construction activities in
2018. RLW's share of this phase is 51%, with joint venture partner
SEMA Construction at 49%. The award is included in December 31, 2024 combined backlog.
CEO Remarks
"These awards exemplify the attractive project opportunities we
are seeing in our core Rocky Mountain and Arizona regions," stated Joe Cutillo, Sterling's CEO. "RLW continues to prove that
its technical capabilities and best-in-class execution make it a
trusted partner for highway and bridge work," Mr. Cutillo
concluded.
About Sterling
Sterling operates through a
variety of subsidiaries within three segments specializing in
E-Infrastructure, Transportation and Building Solutions in
the United States, primarily
across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain
regions and the Pacific Islands. E-Infrastructure Solutions
provides advanced, large-scale site development services for
manufacturing, data centers, large scale distribution centers,
warehousing, power generation and more. Transportation Solutions
includes infrastructure and rehabilitation projects for highways,
roads, bridges, airports, ports, rail and storm drainage systems.
Building Solutions includes residential and commercial concrete
foundations for single-family and multi-family homes, parking
structures, elevated slabs, other concrete work, plumbing services,
and surveys for new single-family residential builds. From strategy
to operations, we are committed to sustainability by operating
responsibly to safeguard and improve society's quality of life.
Caring for our people and our communities, our customers and our
investors – that is The Sterling Way.
Joe Cutillo,
CEO, "We build and service the infrastructure that enables our
economy to run,
our people to move and our country to grow.
Important Information for Investors and Stockholders
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements that are considered
forward-looking statements within the meaning of the federal
securities laws. Any such statements are subject to risks and
uncertainties, 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. The
forward-looking statements speak only as of the date made, and we
undertake no obligation to publicly update or revise any
forward-looking statements for any reason, whether as a result of
new information, future events or developments, changed
circumstances, or otherwise, notwithstanding any changes in our
assumptions, changes in business plans, actual experience or other
changes. These cautionary statements qualify all forward-looking
statements attributable to us or persons acting on our behalf.
Company Contact:
Sterling
Infrastructure, Inc.
Noelle Dilts, VP Investor Relations
and Corporate Strategy
281-214-0795
Noelle.dilts@strlco.com
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SOURCE Sterling Infrastructure, Inc.
