ORN stock formed a candle over candle reversal last week and is headed higher after the company reported a $47 million contract last week.
On February 4, 2020, Orion Group Holdings, Inc. (NYSE: ORN) a leading specialty construction company, announced a contract award totaling approximately $47 million.
The Company’s Industrial unit has been awarded a contract from the Port of New Orleans for the Nashville Terminal container conversion project in New Orleans, Louisiana. The project calls for the demolition of an existing warehouse at the Nashville Terminal, upgrades and repairs to the existing wharf structure, and the installation of rails to support and accommodate four container cranes to expand the Port’s service offerings. The work is expected to commence in the first quarter of 2020 and be complete in the third quarter of 2021.
“We are very excited to have added a significant project for the Port of New Orleans to our backlog and further increase Orion’s reputation as a key provider of port infrastructure construction services across the USA,” said Mark Stauffer, President and Chief Executive Officer.
On January 21, 2020, Orion Group Holdings, Inc. (NYSE: ORN) announced contract awards totaling $18 million.
The Company’s Concrete Segment has been awarded has been awarded three separate contracts for structural projects in its Houston, Texas market totaling approximately $18 million. The Company’s work on these projects is expected to begin in the first quarter with a duration of approximately eleven months.
“These awards further strengthen our position as a leader for structural concrete projects in the Houston market,” said Mark Stauffer, President and Chief Executive Officer.
On January 14, 2020, Orion Group Holdings, Inc. (NYSE: ORN) announced contract awards totaling approximately $22 million.
The Company’s Concrete segment has been awarded three contracts for light commercial work in Texas. Two of these projects are located in the Dallas market and total approximately $14 million, while the third is an $8 million project in Houston. All three of these projects are expected to begin in the first quarter of 2020 with a duration of approximately nine months.
“These awards are a great start to the year for our Concrete segment,” stated Mark Stauffer, Orion’s President and Chief Executive Officer. “The Dallas and Houston markets continue to represent attractive growth areas for commercial projects and we are pursuing, and expect to capture a number of similar opportunities as the year progresses.”
Orion Group Holdings, Inc. is a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas.