Welcome Race Fans: Granite Gets Top Spot for Contract at Iconic WeatherTech Raceway Laguna Seca

Rhea-AI Summary

Granite (NYSE:GVA) has secured a contract valued at approximately $12 million for improvement projects at WeatherTech Raceway Laguna Seca in Monterey, California. The project, funded by Monterey County, involves resurfacing the track and replacing the start-finish bridge. Work is scheduled to commence in November 2022 and is expected to conclude by June 2023. This contract further strengthens Granite's relationship with Monterey County and adds to its portfolio of raceway projects.

Positive

• Secured a $12 million contract for track improvements at WeatherTech Raceway Laguna Seca.
• Strengthens relationship with Monterey County, enhancing future project opportunities.
• Continues to build on experience with various raceway projects across the country.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) announced today that it has been awarded an approximately $12 million dollar construction contract for various improvement projects at the historic WeatherTech Raceway Laguna Seca in Monterey, California. The classic track, constructed in 1957, has hosted numerous car and motorcycle racing championships, cycling events, antique car gatherings, concerts, and more. The contract was awarded and will be funded by the County of Monterey. The award was included in Granite’s second quarter CAP.

The new contract adds to Granite’s recent raceway work, which includes the Barber Motorsports Park in Birmingham, Alabama, the Thermal Club and the BMW Performance Center in Thermal, California, and the Honda Proving Center in Cantil, California.

The project scope consists of resurfacing the entire track and replacing the existing start-finish bridge and starters platform. This includes the construction of a prefabricated steel truss pedestrian bridge with concrete decking and concrete bridge footings and abutments, concrete pedestrian walkways, ramps, and stairs, hand railing, chain link fencing, mechanically stabilized earth walls, cast-in-place walls, as well as related drainage improvements and utility relocations. In addition, the project will reconstruct the raceway’s pit lane. The track was last resurfaced in 2007.

“Laguna Seca is an absolutely iconic feature of the Monterey Peninsula, and this project gives Granite the opportunity to be part of the history of the circuit,” said Steve Kaesler, Granite construction manager. “We have a long relationship with Monterey County and are grateful to grow that relationship further with this project. The replacement of the start-finish bridge and track resurfacing is a wonderful opportunity to demonstrate our connection to the community here on the peninsula.”

Granite’s Salinas facility will provide the hot mix asphalt for the project and Granite’s Handley Quarry will provide aggregate and import backfill.

The project is expected to begin in November 2022 and anticipated to be completed by June 2023.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220802006108/en/

Granite Contacts

Media

Erin Kuhlman 831-768-4111

Investors

Wenjun Xu - 831-761-7861

Source: Granite

FAQ

What is the value of the construction contract awarded to Granite for WeatherTech Raceway?

Granite was awarded a construction contract valued at approximately $12 million.

When is the project at WeatherTech Raceway expected to start and finish?

The project is expected to begin in November 2022 and be completed by June 2023.

What improvements will be made at WeatherTech Raceway?

The project includes resurfacing the track and replacing the start-finish bridge, along with various infrastructure enhancements.

Who funded the construction project at WeatherTech Raceway?

The contract was awarded and funded by the County of Monterey.

What other raceway projects has Granite worked on recently?

Granite has worked on projects at Barber Motorsports Park, Thermal Club, BMW Performance Center, and Honda Proving Center.