NV5 Announces Approximately $9 Million in Transportation Infrastructure Awards
May 26 2020 - 8:00AM
NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:
NVEE), a provider of professional and technical
engineering, geospatial, and consulting solutions, announced today
that it has been awarded approximately $9 million in transportation
infrastructure contracts in New York and California. These
projects will provide engineering, construction inspection, and
program management services for critical infrastructure projects
related to roadway and pedestrian facility improvements, stormwater
infrastructure improvements, and bridge rehabilitation.
“Critical infrastructure investments, such as transportation,
utility services, water resources, and civil program management
continue to drive new business for NV5, even during times of
economic downturn,” said Dickerson Wright, PE, Chairman and CEO of
NV5. “The investments being made by the New York State DOT
and Caltrans will improve the transportation infrastructure in each
state for years to come, and we are proud to support these efforts
for our valued clients.”
The New York State Department of Transportation (NYSDOT) awarded
NV5 three new construction inspection contracts, totaling
approximately $3.5 million. In Suffolk County, NV5’s services
will support an 18-month drainage improvement project to address
ponding and pavement flooding on New York State Route 454, along
with curb, barrier, signage, and pavement improvements. NV5
will also support a 14-month bridge rehabilitation project in
Nassau County on New York State Route 25, which will include
bearing replacement, pedestal reconstruction, substructure and deck
repair, bridge rail and sidewalk replacement, and asphalt
overlay. In Rockland County, NV5 will provide construction
inspection and concrete testing for a 14-month project to replace
and reconstruct the roadway and pedestrian facilities of New York
State Route 17 in the Village of Sloatsburg.
The California Department of Transportation – District 9
(Caltrans: District 9) selected NV5 for a $5.1 million contract to
provide on-call construction engineering, inspection, testing,
claims, and constructability support services for transportation
facilities throughout the Caltrans: District 9 service area
including Eastern Kern, Inyo, and Mono Counties. NV5 has
served Caltrans since 2003, in support of transportation facilities
and projects across the State of California. Work has already
begun under this work order, and the contract duration is 30
months.
“NYSDOT continues to rejuvenate the transportation
infrastructure that ties the State’s communities together, and we
are proud to contribute to projects that increase the safety,
efficiency, and life span of these transportation assets,” said
Linda Reardon, PE, Senior Vice President Infrastructure East at
NV5.
“Caltrans has been a valued NV5 client for many years, and we
appreciate the opportunity to continue our partnership to improve
the transportation infrastructure that serves residents, visitors,
and businesses throughout District 9,” said Todd George, PE, COO
Infrastructure West at NV5.
About NV5NV5 Global, Inc. (NASDAQ: NVEE) is a
provider of professional and technical engineering, geospatial, and
consulting solutions ranked #27 in the Engineering News-Record Top
500 Design Firms list. NV5 serves public and private sector clients
in the infrastructure, utility services, construction, real estate,
and environmental markets. NV5 primarily focuses on five business
verticals: construction quality assurance, infrastructure
engineering and support services, utility services, program
management, and environmental solutions, and delivers geospatial
services through its subsidiary Quantum Spatial, Inc., the largest
full-service geospatial solutions provider in North America. The
Company operates out of more than 100 locations worldwide. For
additional information, please visit the Company’s website at
www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook,
and Vimeo.
Forward-Looking StatementsThis press release
contains “forward-looking statements” within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. The Company cautions that these statements are
qualified by important factors that could cause actual results to
differ materially from those reflected by the forward-looking
statements contained in this news release. Such factors include:
(a) changes in demand from the local and state government and
private clients that we serve; (b) general economic conditions,
nationally and globally, and their effect on the market for our
services; (c) competitive pressures and trends in our industry and
our ability to successfully compete with our competitors; (d)
changes in laws, regulations, or policies; and (e) the “Risk
Factors” set forth in the Company’s most recent SEC filings. All
forward-looking statements are based on information available to
the Company on the date hereof, and the Company assumes no
obligation to update such statements, except as required by
law.
Investor Relations Contact
NV5 Global,
Inc.
Jack CochranVice President, Marketing & Investor RelationsTel:
+1-954-637-8048Email: ir@nv5.com
Source: NV5 Global, Inc.
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