Shimmick Named ENR Top 400 Contractor

Rhea-AI Summary

Shimmick (Nasdaq: SHIM), a leading water infrastructure company, has been named an Engineering-News Record Top 400 Contractor, ranking No. 193 with $656 million in annual revenue. The company also secured the No. 43 spot as a Top 50 Heavy Domestic contractor with $611 million in domestic heavy revenue.

Shimmick's ranking reflects its growing focus on water infrastructure projects, including a $248.5 million Regional Water Reclamation Facility Expansion project in Lake Elsinore, CA, a $68.1 million Laguna Treatment Plant Disinfection Improvements Project in Santa Rosa, CA, and a $114.4 million U.S. Army Corps of Engineers Folsom Main, Left Wing and Right-Wing Dams project. These initiatives underscore the company's commitment to addressing critical water challenges and expanding its presence in the water infrastructure sector.

Positive

• Ranked No. 193 in ENR Top 400 Contractors list with $656 million annual revenue
• Ranked No. 43 in Top 50 Heavy Domestic contractors list with $611 million domestic heavy revenue
• Consistently maintained position among top 200 contractors and top 50 domestic heavy contractors since 2021
• Secured major water infrastructure projects worth $248.5 million, $68.1 million, and $114.4 million

Negative

• None.

IRVINE, Calif., July 23, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a leading water infrastructure company, today announced that it was once again recently named an Engineering-News Record Top 400 Contractor, ranking No. 193 with $656 million in annual revenue. Shimmick was also named a Top 50 Heavy Domestic contractor, coming in at No. 43 with $611 million in domestic heavy revenue. Notably, Shimmick has consistently maintained its position among the top 200 contractors and the top 50 domestic heavy contractors in North America since it became an independent business in 2021. The complete list of Top 400 Contractors is available on ENR’s website.

Shimmick's ranking reflects its growing focus on water infrastructure projects. Ongoing projects contributing to the ENR ranking includes a $248.5 million Regional Water Reclamation Facility Expansion project in Lake Elsinore, CA, which involves constructing new facilities and modifying existing ones to enhance water treatment capabilities. Additionally, Shimmick is constructing a $68.1 million contract for the Laguna Treatment Plant Disinfection Improvements Project in Santa Rosa, CA, replacing an aging ultraviolet light disinfection system and installing new effluent management infrastructure. The company is also part of a joint venture constructing a $114.4 million contract for the U.S. Army Corps of Engineers Folsom Main, Left Wing and Right-Wing Dams project, focusing on flood risk management and structural improvements. These projects underscore Shimmick's commitment to addressing critical water challenges and align with our strategy of expanding our presence in the water infrastructure sector.

“We are thrilled to be highlighted by the Engineering-News Record consistently over the last few years,” said Steve Richards, Chief Executive Officer. “This highlights our commitment to maintaining our strong engineering footprint, especially in the United States, for our client base. We look forward to delivering results in 2024 and beyond to maintain our status as a top 400 contractor in the future.”

About Shimmick

Shimmick (NASDAQ: SHIM) is a leading provider of water infrastructure solutions nationwide. Shimmick has a long history of working on complex water projects, ranging from the world’s largest wastewater recycling and purification system in California to the iconic Hoover Dam. Shimmick is led by industry veterans, many with over 20 years of experience, and works closely with its customers to deliver complete solutions, including long-term operations and maintenance.

Media Contact:
Tonya Sandman
303-478-4987
Tonya.sandman@shimmick.com

Investor Contact:
Investor Relations
+1-949-704-2350
IR@shimmick.com

FAQ

What is Shimmick's (SHIM) ranking in the ENR Top 400 Contractors list for 2024?

Shimmick (SHIM) ranked No. 193 in the Engineering-News Record Top 400 Contractors list for 2024, with $656 million in annual revenue.

What major water infrastructure projects is Shimmick (SHIM) currently working on?

Shimmick (SHIM) is working on a $248.5 million Regional Water Reclamation Facility Expansion project in Lake Elsinore, CA, a $68.1 million Laguna Treatment Plant Disinfection Improvements Project in Santa Rosa, CA, and a $114.4 million U.S. Army Corps of Engineers Folsom Main, Left Wing and Right-Wing Dams project.

How has Shimmick's (SHIM) ranking in the ENR Top 400 Contractors list changed since 2021?

Shimmick (SHIM) has consistently maintained its position among the top 200 contractors and the top 50 domestic heavy contractors in North America since it became an independent business in 2021.

What is Shimmick's (SHIM) focus in the infrastructure sector?

Shimmick (SHIM) is focusing on expanding its presence in the water infrastructure sector, addressing critical water challenges through various projects.