Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its subsidiary, Ralph L. Wadsworth Construction Company, LLC (“RLW”) was selected by the Utah Department of Transportation (“UDOT”) as the contractor on a design-build project valued at approximately $22 million. The project will entail roadway widening and reconstruction of a 6.5 mile stretch of I-15 from the S. Payson Interchange to Spanish Fork River (Project Number F-I-15-6 (213) 249). RLW will utilize the services of Michael Baker Jr. Inc., an engineering unit of Michael Baker Corporation (NYSE MKT: BKR), as the lead designer. The project is anticipated to begin in March 2013 and be completed by September 2013.
Kip Wadsworth, RLW’s Chief Executive Officer commented, "It is extremely gratifying for RLW to be selected for this project. It is a testament to our continuing commitment to pursue excellence in the design-build marketplace."
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 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.
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