Oct 26 2010
Sterling Construction Company, Inc. (NasdaqGS: STRL), ("Sterling" or the "Company") today announced that its subsidiary, Texas Sterling Construction Co., was the apparent low bidder on a $91.2 million construction project in Tarrant County, Texas.
Project construction is expected to begin in the second quarter of 2011 and be completed in second half of 2013. The scope of the project consists of constructing a 1.7 mile section of eight lanes of tollway, 20 bridges and 15,000 linear feet of water and storm drainage infrastructure. The project is part of the $1.4 billion Southwest Parkway/Chisholm Trail Parkway being developed by the North Texas Tollway Authority from I-30 near downtown Fort Worth southwest to U.S. 67 in Cleburne, Texas.
Patrick T. Manning, Sterling’s CEO, stated “We are really excited about this win. Competition is tough in our markets; however, with this win we continue our stated strategy to weather current market conditions and compete successfully for projects as they become available at acceptable profit margin levels.”
Source: http://www.sterlingconstructionco.com/