Top News

American Apparel Got Indication of Interest for $1.30-$1.40 per Share
Tweet TWEET

Granite Executes Contract and Receives Notice to Proceed on IH-35E Project in Texas

  Granite Executes Contract and Receives Notice to Proceed on IH-35E Project
  in Texas

Business Wire

WATSONVILLE, Calif. -- June 3, 2013

Granite Construction Incorporated (NYSE:GVA) announced today that AGL
Constructors (AGL), a joint venture comprised of Archer Western Contractors,
LLC, Granite Construction Company and Lane Construction Corporation recently
received an executed contract and notice to proceed from the Texas Department
of Transportation (TxDOT) for the IH-35E Managed Lanes Project in Texas.
Granite expects to book approximately $296 million related to its 35 percent
share of the project into second quarter 2013 backlog.

The scope of the project includes design and reconstruction of 28 miles
between IH-635 and US 380 between Dallas and Denton Counties, a section known
as one of Texas’ 100 most congested roadways. In various segments, the project
will add two reversible managed lanes and one additional general purpose lane
in each direction. The project will also add a new southbound bridge at Lake
Lewisville that will offer more reliability for commuters during major
incidents.

AGL was selected by TxDOT in December of 2012. Work has begun and is expected
to take approximately 3.5 years to complete.

About Granite

Through its offices and subsidiaries nationwide, Granite Construction
Incorporated (NYSE: GVA) is one of the nation’s largest infrastructure
contractors and construction materials producers. Incorporated in 1922,
Granite serves public- and private-sector clients on projects both small and
large. Granite’s project teams represent some of the best in the industry
serving owners in the transportation, power, federal, tunneling, underground,
and industrial/mining and water resources markets. In 2013, the Company was
recognized by the Ethisphere Institute as one of the World’s Most Ethical
Companies for the fourth year in a row. For more information please visit
www.graniteconstruction.com.

Contact:

Granite Construction Incorporated
Jacque Fourchy, 831-761-4741
 
Press spacebar to pause and continue. Press esc to stop.