Smith-Midland Receives $1.6 Million Order for J-J Hooks Rental Barrier for I-64 Project in Virginia

Rhea-AI Summary

Smith-Midland receives $1.6 million contract for precast concrete barriers in Virginia

Positive

• Smith-Midland received a $1.6 million contract for J-J Hooks precast concrete barriers in Norfolk, Virginia.
• The barriers will be provided by the company's highway barrier rental division, Concrete Safety Systems (CSS).
• Delivery and installation will begin in November 2023 and the project is expected to run through the second half of 2026.
• The significant investment in the barrier rental fleet provides additional opportunities for servicing multiple projects of this size in the future.

Negative

• None.

MIDLAND, VA / ACCESSWIRE / October 19, 2023 / Smith-Midland (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems received a contract through the Virginia DOT for $1.6 million of J-J Hooks precast concrete barrier as part of the I-64 Hampton Roads Express Lanes project, in Norfolk, Virginia. The barriers will be provided by the company's highway barrier rental division, Concrete Safety Systems (CSS).

Delivery and installation of the J-J Hooks precast concrete freestanding and bolt-down barrier and attenuators, by CSS, will begin in November 2023, providing direction for motorists and safety for workers during the construction of the new express lanes leading to and from the Hampton Roads Bridge Tunnel. The project is expected to run through the second half of 2026.

"The Hampton Roads area of Virginia is going through a major transition with Smith-Midland and CSS continuing to be an integral contributor through our products and services. This latest installment of barrier for the I-64 Express Lanes solidifies that we produce, deliver, and install, a superior product that results in recurring orders," said Matthew Smith, President of Concrete Safety Systems. "The significant investment in our barrier rental fleet provides us additional opportunity to service multiple projects of this size simultaneously and we expect to continue to secure projects of this scale in the future."

J-J Hooks, MASH TL-3 tested, freestanding and bolt-down barrier, are designed by Easi-Set Industries, a division of Smith-Midland Corporation, and approved through VDOT, among multiple other state DOTs.

Specified and approved across North America, the patented J-J Hooks Precast Concrete Safety Barrier system is both the most economical and easiest to install, with fast connections, no loose hardware, and rapid reconfiguration. More than 16 million linear feet have been installed worldwide.

About Smith-Midland Corporation

Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products and systems for use primarily in the construction, transportation, and utility industries.

Smith-Midland Corporation has three manufacturing facilities located in Midland, VA, Reidsville, NC, and Columbia, SC, and a J-J Hooks^® Safety Barrier rental firm, Concrete Safety Systems. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall^®, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit www.smithmidland.com.

Forward-Looking Statements

This announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from the results discussed in the forward-looking statements. Factors which might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, inflationary factors including potential recession, general business and economic conditions, our debt exposure, our high level of accounts receivables, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

Media Inquiries:
scrandall@midlandadvertising.com
(540) 439-8056

Sales Inquiries:
info@smithmidland.com
(540) 439-3266

Investor Relations:
Steven Hooser or John Beisler
Three Part Advisors, LLC
(214) 872-2710

SOURCE: Smith-Midland Corporation

View source version on accesswire.com:
https://www.accesswire.com/794621/smith-midland-receives-16-million-order-for-j-j-hooks-rental-barrier-for-i-64-project-in-virginia

FAQ

What is the contract amount for Smith-Midland?

The contract amount for Smith-Midland is $1.6 million.

When will the delivery and installation of the barriers begin?

The delivery and installation of the barriers will begin in November 2023.

Who is providing the barriers for the project?

The barriers will be provided by Smith-Midland's highway barrier rental division, Concrete Safety Systems (CSS).

How long is the project expected to run?

The project is expected to run through the second half of 2026.

What is the significance of the investment in the barrier rental fleet?

The significant investment in the barrier rental fleet provides additional opportunities for servicing multiple projects of this size in the future.