Atlas Awarded $8 Million Construction Engineering and Inspection Contract from the Texas Department of Transportation

Rhea-AI Summary

Atlas Technical Consultants (ATCX) announced a new $8 million contract with the Texas Department of Transportation for Construction Engineering and Inspection services in the Odessa District. This five-year contract will facilitate key infrastructure projects, continuing Atlas' partnership with TxDOT since 2016. The company has managed nearly $277 million in projects in West Texas, with $175 million in the Odessa District alone. The contract aims to enhance the management and quality of construction projects, crucial for maintaining the state's transportation system.

Positive

• Awarded a substantial $8 million contract from TxDOT, enhancing revenue streams.
• Continues to build on a partnership with TxDOT that has been ongoing since 2016.
• Successfully managed nearly $277 million of projects in West Texas, highlighting operational capacity.

Negative

• None.

AUSTIN, Texas, Aug. 18, 2021 (GLOBE NEWSWIRE) -- Atlas Technical Consultants, Inc. (Nasdaq: ATCX) (“Atlas” or the “Company”), a leading infrastructure and environmental services provider, announced the award of an $8 million contract from the Texas Department of Transportation (TxDOT) for Construction Engineering and Inspection (CEI) services. This five-year contract will support the TxDOT’s Odessa District, which includes Andrews, Crane, Ector, Loving, Martin, Midland, Pecos, Reeves, Terrell, Upton, Ward and Winkler.

“We are extremely proud of our continued partnership with TxDOT and that we will continue to provide quality CEI services as we have since 2016,” said Atlas Chief Growth Officer, Priya Jain. “Atlas’ investment and growth in providing quality assurance for CEI services is a testament to our focus on helping our clients safely improve and maintain critical infrastructure projects, especially within the nation’s largest energy production zone.”

Under TxDOT’s oversight, Atlas will assist in managing construction of specific operations and provide Engineer Led Inspection Teams (ELIT) to perform various CEI services. It is expected at the time of the solicitation that work will be primarily in the Odessa district, but work may be required in other districts. Specific work may include day-to-day management of construction inspection, material testing, record keeping and documentation and overall project management for construction activities on strategically selected projects. Odessa District plans, designs, builds, operates and maintains the state transportation system. The Odessa District oversees approximately 8,226 lane miles of roadway, employs 286 employees and has nearly $500 million in construction letting and maintenance expenditures.   

Atlas has been providing CEI services in the Odessa District since 2016. This is the fifth prime CEI contract for West Texas and the third for the Odessa District.  To date, Atlas has managed the construction engineering, inspection, material testing, or document control for almost $277 million of projects in West Texas, $175 million of which were in the Odessa District.

About Atlas Technical Consultants
Headquartered in Austin, Texas, Atlas is a leading provider of Environmental Solutions (ENV), Testing, Inspection & Certification (TIC), Engineering & Design (E&D), and Program, Construction, and Quality Management (PCQM) services. Under the name Atlas Technical Consultants, we offer solutions to public and private sector clients in the transportation, commercial, water, government, education, and industrial markets. With approximately 3,600 employees and a nationwide footprint, Atlas provides a broad range of mission-critical technical services, helping clients test, inspect, certify, plan, design, and manage a wide variety of projects across diverse end markets. For more information, go to https://www.oneatlas.com.

Forward-Looking Statements

The statements contained in this press release that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. The information included in this press release in relation to Atlas has been provided by Atlas and its management team, and forward-looking statements include statements relating to Atlas’ management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us and are based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: (1) the effect, impact, potential duration or other implications of the COVID-19 pandemic and any expectations we may have with respect thereto; (2) the risk that our actual results may differ from the guidance we have provided; (3) the ability to recognize the anticipated benefits of our past acquisitions, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain management and key employees; (4) changes adversely affecting the business in which we are engaged; (5) changes in applicable laws or regulations; (6) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties indicated from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein.

Contacts:

Media
Karlene Barron
770-314-5270
karlene.barron@oneatlas.com 

Investor Relations
512-851-1507
ir@oneatlas.com 

FAQ

What is the value of the new contract awarded to ATCX by TxDOT?

The new contract awarded to Atlas Technical Consultants by the Texas Department of Transportation is valued at $8 million.

How long is the contract for Construction Engineering and Inspection services?

The contract for Construction Engineering and Inspection services is five years long.

In which district will ATCX be providing services under the new contract?

ATCX will provide services primarily in the Odessa District of Texas.

Since when has ATCX been providing services to TxDOT?

Atlas Technical Consultants has been providing services to TxDOT since 2016.

What has been the total project value that ATCX managed in West Texas?

Atlas Technical Consultants has managed nearly $277 million of projects in West Texas.