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Sterling Announces Specialty Services Project Wins Totaling $160 Million For the Fourth Quarter 2021
THE WOODLANDS, Texas--(BUSINESS WIRE)-- Sterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its Specialty
About this update from Sterling Infrastructure, Inc.
[{"type":"text","content":" THE WOODLANDS, Texas--(BUSINESS WIRE)--\nSterling Construction Company, Inc. (NasdaqGS: STRL) (“Sterling” or “the Company”) today announced that its Specialty Services segment, which focuses on multiple “E-Infrastructure” categories, was awarded projects totaling $160 million during the fourth quarter of 2021. Sterling’s Specialty Services projects include large-scale site development services for data centers, ecommerce distribution centers, warehouses, industrial developments, and multi-use residential facilities.\n\n\nSterling’s Specialty Services segment remains as one of the Company’s fastest-growing segments returning the highest margins to the portfolio and now covers all major markets on the East Coast.\n\n\nThe fourth quarter wins include both Plateau and Petillo’s awards and brings our total Specialty Services backlog to $433 million, which will be substantially completed in 2022.\n\n\nCEO Remarks\n\n“Our commitment to our strategic vision to transform the company to an Infrastructure Solutions Provider continues to position Sterling in the right markets at the right time. With our recent acquisitions, we are now able to cover the ever-growing E-Infrastructure developments of blue-chip customers in all major East Coast markets. The recent project awards demonstrate our expanding leadership position with leading customers that value our high-quality execution,” stated Joe Cutillo, Sterling’s CEO. “These wins in our Specialty Services segment enabled us to end 2021 strong and positions us well for a solid start to 2022.”\n\nAbout Sterling\n\nSterling 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, Northeastern and Mid-Atlantic 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, airports, ports, light rail, water, wastewater and storm drainage systems. Specialty Services projects include site development activities, foundations for multi-family homes, parking structures and other commercial concrete projects. Residential projects include concrete foundations for single-family home...