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Granite Awarded California Highway 1 Paving Contract in Northern California

BusinessWire_EN 
0 0 21.05.20
Granite Awarded California Highway 1 Paving Contract in Northern California
 

Granite (NYSE:GVA) has been awarded a contract in Mendocino County, California for the Highway 1 Overlay near Gualala by the California Department of Transportation (Caltrans). The $10 million contract will be booked in Granite’s second quarter 2020 backlog.

The scope of Granite’s work includes pavement overlay along coastal Highway 1 from the Sonoma County line to Point Arena. This work will improve the surface along the scenic highway overlooking the remote Mendocino Coastline.

“This project is an example of the synergy between our operations and construction materials business units,” said Justin Ingram, Granite north coast operations manager. “The 38,300 tons of hot-mix asphalt for this project will be provided by Granite’s North State Street Hot Plant in Ukiah.”

Construction is expected to begin in July 2020 and conclude in November 2020.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for eleven consecutive years, Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200521005172/en/

Granite Construction Stock

€51.00
2.000%
Granite Construction gained 2.000% today.
Based on 2 Buy predictions and 1 Sell predictions the sentiment towards Granite Construction is rather balanced.
As a result the target price of 58 € shows a slightly positive potential of 13.73% compared to the current price of 51.0 € for Granite Construction.
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