Smith-Midland’s Utility Vault Orders Surge: Meeting Data Center Demand
March 19, 2024 | Smith-MIdland Virginia, Utility Products
MIDLAND, VA – March 19, 2024 – Smith-Midland Corporation (NASDAQ: SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, is currently designing, manufacturing, and delivering more than $3 million in standard and custom designed utility vaults, rated for various weight requirements for multiple projects throughout Northern Virginia.
Utility vaults are in high demand, and Smith-Midland’s precast concrete vaults are engineered with both standard and custom designs to be used for numerous projects in their Midland, Virginia plant market, where data center growth is booming. These utility vaults are used to deliver electricity to the data centers.
Northern Virginia has earned the nickname “Data Center Alley” thanks to the over 300 data centers handling more than 30 percent of the global online traffic in the region, with more centers planned. In Loudoun County, Virginia alone, there are over 30 million square feet of data centers with over 5 million square feet in development.
“With AI technologies driving more and more demand for new data center construction, Smith-Midland is seeing an increase in the request of our utility vaults for their use. The versatility and durability of our products and the ability to produce custom designs to fit into the existing landscapes make them the smart choice. We look forward to many more contracts like these in the future,” said Matthew Smith, Vice President of Sales and Marketing at Smith-Midland.
About Smith-Midland Corporation
Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products and systems for use primarily in the construction, transportation, and utility industries.
Smith-Midland Corporation has three manufacturing facilities in; Midland, VA, Reidsville, NC, and Columbia, SC, and a J-J Hooks® Safety Barrier rental firm, Concrete Safety Systems. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall®, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit www.smithmidland.com.
Forward-Looking Statements
This announcement contains forward-looking statements, which involve risks and uncertainties. The Company’s actual results may differ significantly from those discussed in the forward-looking statements. Factors that 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, inflationary factors including potential recession, general business and economic conditions, our debt exposure, our high level of accounts receivables, 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.
Media Inquiries:
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info@smithmidland.com
(540) 439-3266
Investor Relations:
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Three Part Advisors, LLC
(214) 872-2710