HOLLYWOOD, Fla., June 22, 2017 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has won a $7 million contract to provide Construction Management and Inspection Services for the 5th Street Bridge Replacement Project in Yuba City, California. The bridge replacement is the City’s largest and most complex project and is expected to conclude in 2020.
The project includes improvements to the 5th and 2nd Street Bridges and will require the cooperation of Yuba City, the City of Marysville, the California Department of Transportation (Caltrans), and the Counties of Yuba and Sutter. As the prime consultant on the project, NV5’s Civil Program Management team will manage the construction of a new 1,800-foot bridge and reconfiguration of the approach roadways, ramps, and intersections adjacent to the structure as well as demolition of the existing 5th Street Bridge.
“This project is a great example of the importance of improvements to our nation’s transportation infrastructure prompted by recent federal initiatives,” said Dickerson Wright, PE, Chairman and CEO of NV5. “This particular bridge was rated ‘functionally obsolete’ by Caltrans under Federal Highway Administration (FHWA) prescribed inspection criteria. We feel optimistic that the ailing condition of our roadways and bridges will continue to demand more support and attention at the federal level to alleviate these issues and keep our communities productive and safe.”
NV5 Project Manager Mehrdad Varzandeh, PE, said, “We are excited to begin work for the City to facilitate the widening of the roadways from two to four lanes, providing much needed traffic operations and capacity improvements to the transportation network between Yuba City and Marysville.”
About Yuba City
Yuba City is located just 40 miles north of Sacramento near the Feather River at the base of the Sutter Buttes, known as the smallest mountain range in the world. Yuba City is the agricultural, economic, and social hub of the Yuba-Sutter Region. Providing a unique blend of urban amenities and small-town charm, Yuba City’s historic downtown is celebrated for shopping, entertainment and community events. Residents and visitors of Yuba City enjoy a wide variety of outdoor recreation, an abundance of locally grown produce, beautiful parks and a state-of-the-art aquatic center (Source: Yuba City). To read more about Yuba City, see the City’s website.
About NV5
NV5 Global, Inc. (NASDAQ:NVEE) is a provider of professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure, engineering and support services, energy, program management, and environmental solutions. The Company operates out of more than 100 locations nationwide and abroad in Macau, Shanghai, Hong Kong, and Vietnam. 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 Statements
This 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.