Shimmick Awarded $45.4M Murray Street Bridge Project in Santa Cruz
Rhea-AI Summary
Shimmick Construction (Nasdaq:SHIM) has been awarded a $45.4 million contract for the Murray Street Bridge project in Santa Cruz. The project involves extensive seismic retrofitting and improvements to enhance the bridge's resilience and accessibility. The scope includes installation of new piles, extended pile caps, new columns, and bent caps. The upgraded bridge will feature wider bike lanes, a new dedicated sidewalk, and see-through barrier rails replacing existing concrete barriers to improve harbor views. Shimmick has previous experience with similar projects including the Caltrans Dumbarton Bridge Seismic Retrofit and Port of San Francisco Illinois Street Intermodal Bridge.
Positive
- Secured new $45.4M contract for Murray Street Bridge project
- Expands company's infrastructure project portfolio in California
- Builds upon existing expertise in bridge retrofit projects
Negative
- None.
News Market Reaction
On the day this news was published, SHIM gained 7.50%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
IRVINE, Calif., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Shimmick Construction Company, Inc. (“Shimmick”) (Nasdaq:SHIM), a leading water and critical infrastructure builder, today announce that it has been awarded a
"This project exemplifies Shimmick's commitment to delivering critical infrastructure that improves both public safety and connectivity and builds on our legacy of infrastructure improvements that serve communities for generations. We are looking forward to partnering with the City of Santa Cruz to complete this important project," said Ural Yal, CEO of Shimmick.
The comprehensive project includes installation of new piles, extended pile caps, new columns, and bent caps. The upgraded bridge will feature wider bike lanes and a new, dedicated sidewalk along the south side. See-through barrier rails will replace existing concrete barriers, improving harbor and ocean views while maintaining safety.
Shimmick has delivered similar bridge retrofit and replacement projects throughout California, such as the Caltrans Dumbarton Bridge Seismic Retrofit and the Port of San Francisco Illinois Street Intermodal Bridge.
ABOUT SHIMMICK
Shimmick (NASDAQ: SHIM) is a leading provider of water and critical infrastructure solutions nationwide. Shimmick has a long history of delivering complex infrastructure projects from the world's largest wastewater recycling and purification system in Orange County California to the iconic Hoover Dam. Shimmick is at the forefront of delivering solutions to meet the nation’s growing demand for water infrastructure. Our self-performing capability ensures better cost control and quality across our diverse project portfolio. According to Engineering News Record, in 2024, Shimmick was nationally ranked as a top ten builder of water supply (#8), dams and reservoirs (#6), and water treatment and desalination plants (#7).
CONTACT INFORMATION
Investor Relations
+1-949-704-2350
IR@shimmick.com
FAQ
What is the value of Shimmick's Murray Street Bridge contract in Santa Cruz?
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