Additional $4.15M Order for Hampton Roads Contract Awarded
October 29, 2021 | Concrete Safety Systems News
MIDLAND, VA, October 28, 2021 – Smith-Midland Corporation (NASDAQ: SMID) – was awarded a $4.15M contract expansion to provide rental barriers for the I-64 Hampton Roads Bridge-Tunnel (HRBT) expansion project with Hampton Roads Connector Partners (HRCP). The original contract, announced in March 2021, written for $2.25M, has grown by $4.15M to a total of $6.4M, due to the scope of the project. This is the largest contract in the Company’s safety barrier and rental division history.
The five-year long, $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, making this is the largest civil construction contract ever awarded by the Virginia Department of Transportation (VDOT).
Hampton Roads Connector Partners is a joint venture of Dragados USA, Vinci Construction, and Flatiron Constructors.
“We are proud to be a part of this historic project. We take safety seriously and are honored to provide high quality MASH highway barriers to protect workers as they enhance Virginia’s infrastructure,” said Ashley Smith, chief executive officer of Smith-Midland. “Smith-Midland has a strong reputation for excellence and is proud to be a service provider of choice to leading contractors across our region.”
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 20 percent of SMID stock, aligning with shareholder values.
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.
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