Smith-Midland Awarded $2.25M Rental Barrier Contract
March 11, 2021 | Investor Relations / Financials
Largest Contract in the History of Concrete Safety Systems
MIDLAND, VA, March 11, 2021 – Smith-Midland Corporation (NASDAQ: SMID) – announces that our safety barrier and rental division, Concrete Safety Systems (CSS), signed the largest contract in its history. The I-64 Hampton Roads Bridge-Tunnel expansion project contract with Hampton Roads Connector Partners (HRCP) exceeds $2.25M. This project is just one more step in Smith-Midland’s strategic growth initiative to leading the barrier rental market across the mid-Atlantic.
Hampton Roads Connector Partners is a joint venture of Dragados USA, Vinci Construction, and Flatiron Constructors. This marks the first contract signing on this project between CSS and HRCP.
The barrier and services supplied by CSS will protect highway construction workers as well as vehicle passengers during the five-year long I-64 Hampton Roads Bridge-Tunnel expansion project. The $3.8B project will widen the current segments of the 1-64 HRBT corridor in Norfolk and Hampton to eight lanes and bore new twin tunnels under the James River. This is the largest civil construction contract ever awarded by the Virginia Department of Transportation (VDOT).
This initial order for MASH compliant J-J Hooks precast concrete highway safety barrier will include delivery, relocation, and pickup services of all barrier rented, plus a full array of attenuators, flashers, and reflectors. Installation will begin later this month.
Matthew Smith, President of CSS stated “We have a very long history of providing barrier and services to all of the leading contractors across our region. They know that regardless of the size or complexity of the project, we get it done right. Our just-one-call service model gives them one less thing to worry about; and makes it easier to keep everyone safe.”
About Smith-Midland Corporation
Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products for use primarily in the construction, transportation, and utilities industries. Management and the board own approximately 17.5 percent of SMID stock, aligning with shareholder values.
About J-J Hooks Highway Safety Barrier
Concrete Safety Systems utilizes J-J Hooks safety barrier, a proprietary product developed by The Smith-Midland Corporation in 1990. J-J Hooks currently offers a full suite of MASH-tested precast concrete temporary barrier. It is the temporary-barrier-of-choice among construction contractors due to its speed of installation/removal, no loose connection hardware, identical ends (can be turned end-to-end), cast-in self-aligning connection guide, and economical cost. Over 16,000,000 LF of J-J Hooks has been deployed on highways across North America. For more information visit www.JJHooks.com
About Concrete Safety Systems
Concrete Safety Systems is a leading barrier rental and logistics provider, with storage yards strategically located across their regional market area. CSS also provides security and crowd control barrier solution logistics across North America, having served as a partner in multiple high-level US and International Government and Commercial events.
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 which might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, general business and economic conditions, 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.
Sales inquires: info@smithmidland.com 540-439-3266
Investor Relations: Steven Hooser or Deidra Roy Three Part Advisors, LLC (214) 872-2710