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Sterling Construction Company, Inc. Awarded a Honolulu Authority for Rapid Transportation Project Valued at Approximately $26 Million


Sterling Construction Company, Inc. (STRL) (“Sterling” or the "Company”) today announced that its subsidiary, Road and Highway Builders, LLC was awarded a $26 million project from the Honolulu Authority for Rapid Transportation (HART) to perform reconstruction work on the King Kamehameha Highway in Pearl City, Hawaii. The project is expected to commence in August of 2018 with a construction duration of approximately one year.

The King Kamehameha Highway is one of the main highways serving suburban and rural O‘ahu. Starting from Nimitz Highway near Pearl Harbor and Hickam Air Force Base in Honolulu, it serves the island's older western suburbs, turning north across the O‘ahu Central Valley to the North. Sterling’s scope of work for the current project includes the resurfacing of the highway along the path of guideway construction through Pearl City and Aiea. Additionally, the project will entail road widening, improvements to intersections, minor utility improvements, traffic signal work, turning loops, and curb and gutter work.

Joe Cutillo, Sterling’s Chief Executive Officer, commented, “We completed smaller projects focused on milling and paving and safety improvements on the King Kamehameha Highway during 2015 and 2016. We are pleased that our solid execution on those jobs has led to additional, larger opportunities and we are looking forward to working with HART on enhancing this important element of the transportation infrastructure for O‘ahu motorists.”

Sterling is a construction company that specializes in heavy civil construction and residential concrete projects primarily in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah and other states in which there are feasible construction opportunities. Our heavy civil construction projects include highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects and parking structures. Our residential construction 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.

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