THE
WOODLANDS, Texas, Feb. 26,
2024 /PRNewswire/ -- Sterling Infrastructure, Inc.
(NasdaqGS: STRL) ("Sterling" or "the Company") today announced that
its Road and Highway Builders, LLC (RHB) subsidiary (50% owned),
has been awarded a $155 million
contract for runway extension at the Lihue Airport located in
Kauai, Hawaii. The award will be
included in first quarter 2024 backlog.
The Lihue Airport project is part of Hawaii's Airport Modernization Program, which
is transforming the state's airports into world-class facilities.
RHB's scope of work includes excavation, drain pipe installation,
structural concrete wall installation, and asphalt. The project is
expected to start in April 2024 and
has a two-and-a-half-year duration.
CEO Remarks
"We are thrilled to be part of
Hawaii's efforts to modernize its
airport system," stated Joe Cutillo,
Sterling's CEO. "States are actively engaged in rolling out
programs to upgrade their infrastructure, driving strong demand for
RHB's best-in-class aviation and highway services," Mr. Cutillo
continued. "Aviation projects, which have been somewhat slow to
move forward following the passage of the Infrastructure Investment
and Jobs Act ("IIJA") are accelerating."
About Sterling
Sterling Infrastructure, Inc., ("Sterling," "the Company," "we,"
"our" or "us"), a Delaware
corporation, 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 Hawaii. E-Infrastructure Solutions provides
advanced, large-scale site development services for manufacturing,
data centers, e-commerce distribution centers, warehousing, energy
and more. Transportation Solutions includes infrastructure and
rehabilitation projects for highways, roads, bridges, airports,
ports, rail and storm drainage systems. Building Solutions projects
include residential and commercial concrete foundations for
single-family and multi-family homes, parking structures, elevated
slabs and other concrete work. 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 of Investor
Relations and Corporate Strategy
281-214-0795
Noelle.dilts@strlco.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/sterling-announces-a-155-million-aviation-award-302070746.html
SOURCE Sterling Infrastructure, Inc.