Sterling Construction (STRL) Nabs $65M Contract for Multiple Airport Projects
- Major stock indexes rise again to new records
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- Third-Party Said Interested in PrivateBancorp (PVTB) as CIBC (CM) Deal is Delayed
- Insys Therapeutics (INSY) Sinks as Former Employees Arrested in Racketeering Scheme
- Lower for longer, ECB scales back asset buys
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Sterling Construction Company, Inc. (Nasdaq: STRL) announced that its subsidiaries, Ralph L. Wadsworth Construction Company, LLC (“RLW”) and J. Banicki Construction, Inc. (“Banicki”) have been awarded $65 million in projects in Utah and Arizona.
The first project, located at Salt Lake City International Airport, is valued at nearly $34 million and consists of all concrete work associated with the Terminal, South Concourse West, Gateway Buildings and associated tunnels. Construction will begin in December of 2016 and is expected to be completed within 2 years.
The second project award, also at Salt Lake City International Airport, is valued at approximately $17 million. The project scope is part of the deep foundation package and includes more than 225,000 linear feet of concrete-filled steel pipe piles ranging in depth from 60 to 120 feet. Construction is scheduled to start in December of 2016 and is expected to be completed by the summer of 2017.
The remaining airport projects are located mainly at Phoenix Sky Harbor International Airport in Arizona and have a combined value of more than $14 million. The scope of work on these projects consists of the removal and replacement of the north side of Terminal 4, which is one of the busiest taxiways at Sky Harbor Airport. The project will overlap the current American Airlines re-gating project and is expected to take 13 months to complete.
Paul J. Varello, Sterling’s Chief Executive Officer, commented, “We are very pleased to have been selected for these important airport projects in Utah and Arizona. These new awards exemplify our strategic focus and help us increase our backlog and track record in the aviation infrastructure market. We plan to aggressively pursue similar projects in the coming years as air travel continues to grow across the country.”
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Macy's (M), Sears (SHLD), Kohl's Corp. (KSS) Accused of Posting Fake 'Original' Prices - Bloomberg
- Orexigen Therapeutics (OREX), Consilient Health Enter Mysimba Commercialization, Distribution Agreement
- Amicus Therapeutics (FOLD) Announces Positive Prelim. Data from ATB200/AT2221 Phase 1/2 as Paradigm Treatment
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!