Smith-Midland signs largest contract in Company’s history
MIDLAND, VA – April 12, 2018 – Smith-Midland Corporation (OTCQX: SMID) project announcement. FAM Construction, LLC (a Ferrovial Agroman US and Allan Myers joint venture) has awarded Smith-Midland the contract to supply 900,000 square feet of SoftSound noise absorptive precast concrete sound wall panels for the I-66 Outside the Beltway Express Lanes project in Northern Virginia. The 22.5 mile long I-66 project will provide two express lanes alongside three regular lanes from I-495 to Route 29 in Gainesville along with other amenities and space reserved for future transit options. The Midland, Virginia plant will begin production in mid-2018, with final project completion scheduled for 2022.
“This is the single largest contract in our Company’s 58 year history” said Matthew Smith, Smith-Midland’s VP of Sales and Marketing, “Our customers continue to respond in a positive manner to the quality of our products and the excellent service that we provide.”
“We are proud to see our work contribute to a project that will benefit Virginians for decades to come,” added Ashley Smith, Smith-Midland’s President, COO, and incoming CEO.
SoftSound, an Easi-Set Worldwide licensed product, is a proprietary material molded and compressed to meet the desired technical and aesthetic requirements, providing superior sound absorptive technology. It combines a highly specialized mineralized aggregate with cement as a binder in a specific and exacting manufacturing process. Once installed, SoftSound surpasses other products for sound absorption, durability, strength, and moldability.
About Smith-Midland Corporation – Smith-Midland Corporation is a publicly traded company (OTCQX: SMID). Smith-Midland develops, manufactures, and sells a broad array of precast concrete products for use primarily in the construction, transportation, and utilities industries. Smith-Midland Corporation has three manufacturing facilities located in Midland, Va., Reidsville, N.C., and Columbia, S.C. Easi-Set Worldwide, a wholly-owned subsidiary of Smith-Midland Corporation, licenses the production and sale of J-J Hooks and other Easi-Set precast products and provides diversification opportunities to the precast industry worldwide, (800) 547-4045, www.easiset.com. For more information, please call (540) 439-3266.
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.