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| 8-K - KIP WADSWORTH_NEW DIRECTOR - STERLING CONSTRUCTION CO INC | director.htm |
FOR IMMEDIATE
RELEASE
STERLING CONSTRUCTION
COMPANY, INC. ANNOUNCES ELECTION OF
KIP WADSWORTH TO ITS BOARD
OF DIRECTORS
Houston,
TX — January 21, 2010. Sterling Construction Company, Inc. (Nasdaq
GS: STRL) (the “Company” or “Sterling”) today announced the election
of Kip Wadsworth to its Board of Directors, enlarging the Board to 10
members.
Sterling’s
Chairman of the Board of Directors, Patrick T. Manning, said, “I, along with the
rest of the Board, would like to welcome Kip as our newest
director. Kip is the president and chief executive officer of Ralph
L. Wadsworth Construction Company, LLC, (“RLW”), which Sterling acquired in
December 2009. He brings many years of construction industry,
management and strategic planning experience to our Board.”
Mr.
Manning added, “RLW, which is headquartered near Salt Lake City, Utah, is in the
heavy civil construction business. Under Kip’s leadership, RLW has
focused on the construction of bridges and other structures, roads and highways,
and light and commuter rail projects, primarily in Utah, and in obtaining and
profitably executing ‘design-build’ and ‘CM/CG’ projects. Kip has
also positioned RLW to be one of the leading Accelerated Bridge Construction
(“ABC”) contractors in the nation. The ABC construction technology is
becoming the technology of choice among many state departments of transportation
throughout the nation. We believe the design-build, CM/CG and other
alternative project delivery methods are increasingly being used by public
sector customers and that Kip and his management team will add to Sterling’s
construction expertise in those delivery methods.”
In
addition to his responsibilities at RLW, Mr. Wadsworth has served on a variety
of construction industry committees, including the board of directors of the
Utah Chapter of the Associated General Contractors and the board of directors of
the Associated Concrete Paving Association. He currently chairs the
Transportation Committee for the Salt Lake City Chamber of Commerce and is on
the board of directors of REDCO, a privately-held renewable energy development
company. Mr. Wadsworth also received the regional Ernst & Young
Entrepreneur of the Year award for construction in 2007.
Sterling
is a leading heavy civil construction company that specializes in the building
and reconstruction of transportation and water infrastructure in large and
growing markets in Texas, Nevada and Utah. Its transportation infrastructure
projects include highways, roads, bridges and light rail, and its water
infrastructure projects include water, wastewater and storm drainage
systems.
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, our ability to successfully integrate acquired businesses and
realize the anticipated benefits of those acquisitions, 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, whether as a result of new
information, future events or otherwise.
Contact:
Sterling
Construction Company, Inc. Investor
Relations Counsel
281-821-9091 The
Equity Group Inc.
Joseph
Harper, Sr.,
or Linda
Latman 212-836-9609
James H.
Allen,
Jr. Lena
Cati 212-836-9611
www.sterlingconstructionco.com www.theequitygroup.com