Largest Contract in History of South Carolina Facility
MIDLAND, VA / ACCESSWIRE / November 15, 2022 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, announced today that it has been awarded a contract with the North Carolina Department of Transportation (NCDOT) for soundwall along the Hampstead Bypass in Pender County, NC.
The $7.7 million contract will provide approximately 329,000 square feet of custom-designed precast soundwall panels and 46,000 linear feet of precast columns, as well as precast J-J Hooks barrier, along the Hampstead Bypass in Pender County, North Carolina. Production begins in 2023 at our South Carolina Plant. This project win increases the current backlog to $53.1 as of November 10, 2022, which is another record high for the Company.
"This latest contract reflects the breadth of our precast product lineup and the capabilities of our Columbia, South Carolina plant. We look forward to procuring more projects of this scale and gaining market share in the process," said Ashley Smith, President and Chief Executive Officer of Smith-Midland Corporation.
The General Contractor for this project is Conti Civil, LLC out of Hampstead, NC.
Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products 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 operates Concrete Safety Systems, the Company's J-J Hooks Safety Barrier rental division. 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.
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 that might cause such a difference include, but are not limited to, the risk that the coronavirus outbreak may adversely affect future operations, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, delays in approvals of customer drawings, general business and economic conditions, including recessions, out debt exposure, 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.
Steven Hooser or John Beisler
Three Part Advisors, LLC
SOURCE: Smith-Midland Corporation
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