Sterling Awarded $10.5 Million Additional Phase of Work at Phoenix’s Sky Harbor International Airport
Sterling Construction Company (NasdaqGS: STRL) announced its subsidiary, J. Banicki Construction, has received a $10.5 million contract from the City of Phoenix and FAA for apron reconstruction at Phoenix Sky Harbor International Airport's Terminal 4. This contract is part of a larger $71 million project initiated in 2015. The project aims to enhance aircraft ground traffic and safety by constructing around 48,000 square yards of concrete apron and related infrastructure. CEO Joe Cutillo highlighted the company's strong track record as a key factor in securing this contract.
- Award of $10.5 million aviation contract enhances revenue.
- Continues participation in the $71 million project at Phoenix Sky Harbor, indicating strong project pipeline.
- Improvement of operational capability and safety at a major airport aligns with industry demand.
- None.
Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its subsidiary, J. Banicki Construction, Inc. (“JBC”), has been awarded a
This is yet another phase in the final stage of the
“We are glad to have been selected to replace the apron at Sky Harbor’s Terminal 4 South, especially after winning the project to reconstruct the apron at the North Concourse earlier this month,” stated Joe Cutillo, Sterling’s CEO. “Our long history and strong track record at Sky Harbor was one of the leading drivers to winning this job and continuing our ongoing work at Terminal 4, which began in 2015. This project will help improve aircraft ground traffic and safety at one of the busiest airports in the nation.”
Sterling Construction Company, Inc. operates through a variety of subsidiaries within three segments specializing in Heavy Civil, Specialty Services, and Residential projects in the United States (the “U.S.”), primarily across the southern U.S., the Rocky Mountain States, California and Hawaii, as well as other areas with strategic construction opportunities. Heavy Civil includes infrastructure and rehabilitation projects for highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems. Specialty Services projects include construction site excavation and drainage, drilling and blasting for excavation, foundations for multi-family homes, parking structures and other commercial concrete projects. Residential projects include concrete foundations for single-family homes.
This press release includes certain statements that fall within the definition of “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties, including overall economic and market conditions, federal, state and local government funding, competitors’ and customers’ actions, and weather conditions, which could cause actual results to differ materially from those anticipated, including those risks identified in the Company’s filings with the Securities and Exchange Commission. Accordingly, such statements should be considered in light of these risks. Any prediction by the Company is only a statement of management’s belief at the time the prediction is made. There can be no assurance that any prediction once made will continue thereafter to reflect management’s belief, and the Company does not undertake to update publicly its predictions or to make voluntary additional disclosures of nonpublic information, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210331005959/en/
FAQ
What is the recent contract awarded to Sterling Construction Company related to?
How much is the total project cost for the ongoing work at Phoenix Sky Harbor?
Which segment of Sterling Construction is involved in the aviation contract?
When did the construction work at Phoenix Sky Harbor begin?
What is the purpose of the $10.5 million contract awarded to Sterling?
