Sterling Construction Company, Inc. (NasdaqGS:STRL) (“Sterling” or “the
Company”) today announced that its affiliate, Myers & Sons Construction
(“Myers”), was selected as the top ranked firm on the Interstate 215
Barton Road Interchange Reconstruction Project in a 50/50 joint venture
with Steve P. Rados, Inc. (“Rados”). The project will be constructed
utilizing a Construction Manager/General Contractor (CMGC) delivery
method for the California Department of Transportation (Caltrans), in
cooperation with the San Bernardino Associated Governments (SANBAG), the
City of Grand Terrace, and the City of Colton. The programmed funds for
the project total $36.0 million and Caltrans intends to negotiate with
the top ranked firm to establish a final construction price.
Construction is expected to begin in early 2016 and be completed by
mid-2018.
According to the Request for Qualifications, “The objective of the
project is to address the operational deficiencies of traffic
congestion, limited capacity, and inefficient traffic operations at the
existing I-215/Barton Road interchange. Limited work spaces within the
interchange footprint require development of optimal construction
staging strategies. The CMGC’s suggestions on work zone traffic control
plans and construction material staging areas are expected to help
optimize staging strategies.”
Peter MacKenna, Sterling’s Chief Executive Officer, commented, “We’re
very pleased to have been chosen to construct this interchange with our
joint venture partner. This project adds to our growing backlog of
significant transportation projects in the California marketplace and
furthers Myers and Sons Construction position as a leader in CMGC
construction."
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.
Copyright Business Wire 2014