HOLLYWOOD, FL--(Marketwired - September 23, 2016) - NV5 Global, Inc. (the "Company" or "NV5") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it was selected to perform Resident Engineering Services on several transportation infrastructure projects throughout New York.
The RBA/NV5 construction services team will be tasked with the inspection of the Saw Mill River Parkway reconstruction project, including structures over Kisco River and Branch Brook that are being replaced to improve hydraulic flow, for a fee of $1.8 million. NV5 will also be performing construction inspection services throughout Region 11 for three years, which includes the Five Boroughs, where several large-scale transportation infrastructure improvements are underway, including bridge replacement and highway reconstruction projects, for a fee of $3 million. Altogether, the work will require the constant efforts of up to 13 inspectors in order to meet the Client's time schedule.
Speaking about the new contracts, Dickerson Wright, PE, Chairman and CEO of NV5, provided, "RBA/NV5 has a 25-year history with the NYSDOT. We find that contracts like these where our professionals can deliver exceptional services around the clock to meet our clients' budgets and time frames often lead to others, especially now that we have such a robust platform of additional services to provide them through our five verticals. We are proud to say that approximately 90 percent of our Infrastructure clients are repeat clients, and as we begin to see more tailwinds associated with federal funding for transportation projects in states like New York where the infrastructure is deteriorating, we will have more opportunities to work with our legacy clients to achieve their goals."
NV5 Project Manager Liam Madden said, "The inspection work our construction services group in New York is known for is multifaceted and comprehensive. Services can range from bridge substructure and superstructure repairs, to the entire replacement of bridge decks, to earthwork, drainage and storm water solutions associated with highway projects. We also facilitate improvements to roadway lighting and traffic systems."
The New York State Department of Transportation's mission is to ensure its customers have a safe, efficient, balanced and environmentally sound transportation system. In 1967 NYSDOT was established to deal with the State's complex transportation system and the need to coordinate the development of transportation with each mode serving its best purpose. Today, NYSDOT transportation network includes: a state and local highway system that annually handles over 130 billion vehicle miles and encompasses more than 113,000 highway miles and more than 17,400 bridges; an extensive 3,500-mile rail network over which 68 million tons of equipment, raw materials, manufactured goods and produce are shipped each year; 485 public and private aviation facilities through which more than 80 million people travel each year; over 130 public transit operators, serving more than 80 million passengers each day; and 12 major public and private ports.
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 60 offices in 26 states nationwide, and is headquartered in Hollywood, Florida. For additional information, please visit the Company's website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
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.
NV5 Global, Inc.
Lauren Wright, PhD
Director of Investor Relations