Orion Group Holdings, Inc. (NYSE: ORN) (“Orion” and “Company”), a
leading specialty construction and engineering company today
announced a significant contract award valued at over $100 million
for its Marine and Engineering business. The contract was awarded
by Grand Bahama Shipyard Limited (GBSL) for the turnkey
design-build of the Grand Bahama Shipyard Dry Dock Replacement
Project, situated in Grand Bahama, Bahamas. In addition, the
Company was recently awarded new contracts in both its Concrete and
Marine segments for a combined total of $121 million.
Orion Group Holdings won the Grand Bahama Shipyard
Dry Dock award through a competitive bid/negotiation process based
on demonstrating its multiple core skill competencies. The scope of
work includes marine works and infrastructure construction,
dredging, creating new mooring facilities, and providing
enhancements to shore stability. In addition, Orion will modify and
extend service piers for the installation of two cutting-edge
floating dry docks, which are among the largest in the western
hemisphere. The project is set to commence immediately and will
conclude in late 2025. Orion will be working with Bahamian
subcontractors on the project.
Travis Boone, President and Chief Executive Officer
of Orion Group Holdings, said, “The scope of the Bahama project
demonstrates the extensive capabilities and commitment to
predictable excellence that our integrated Marine & Engineering
teams can deliver to large-scale and complex projects. We are
excited to embark on this project and look forward to contributing
to the growth and success of the Grand Bahama Shipyard.”
“When completed, the Grand Bahama dry docks will be
a milestone in the maritime industry. With this enormous
undertaking, Grand Bahama Shipyard will have the first floating dry
docks for the Atlantic region capable of lifting the largest cruise
ships in the world. The installation of two state-of-the-art
floating dry docks, categorized as XL and Mega XL, promises
substantial efficiency and cost savings for GBSL’s customers.”
Boone added, “As part of our strategic plan, we
have been focused on strengthening our business development efforts
and I am very proud of the energy and impact our expanded team is
having on our business. In addition to this project award in the
Bahamas for Marine, we also recently received new awards totaling
$121 million, comprised of $50.8 million in the Concrete segment
and $68.5 million in our Marine segment.” For additional
information, see our 8-k filed on September 28, 2023.
Orion Group Holdings, Inc. is a renowned name in
specialty construction, known for its dedication to quality,
innovation, and timely project execution. With these new contract
awards, Orion continues to strengthen its position as an industry
leader capable of tackling complex projects with unmatched
expertise.
About Orion Group Holdings
Orion Group Holdings, Inc., 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, Hawaii,
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 place and finish, site prep, layout, forming,
and rebar placement for large commercial, structural and other
associated business areas. The Company is headquartered
in Houston, Texas with regional offices throughout its
operating areas. https://www.oriongroupholdingsinc.com.
Forward-Looking Statements
The matters discussed in this press release may
constitute or include projections or other forward-looking
statements within the meaning of the “safe harbor” provisions of
Section 27A of the Securities Exchange Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, of
which provisions the Company is availing itself. Certain
forward-looking statements can be identified by the use of
forward-looking terminology, such as 'believes', 'expects', 'may',
'will', 'could', 'should', 'seeks', 'approximately', 'intends',
'plans', 'estimates', or 'anticipates', or the negative thereof or
other comparable terminology, or by discussions of strategy, plans,
objectives, intentions, estimates, forecasts, outlook, assumptions,
or goals. In particular, statements regarding future operations or
results, including those set forth in this press release, and any
other statement, express or implied, concerning future operating
results or the future generation of or ability to generate
revenues, income, net income, gross profit, EBITDA, Adjusted
EBITDA, Adjusted EBITDA margin, or cash flow, including to service
debt, and including any estimates, forecasts or assumptions
regarding future revenues or revenue growth, are forward-looking
statements. Forward-looking statements also include project award
announcements, estimated project start dates, anticipated revenues,
and contract options which may or may not be awarded in the future.
Forward-looking statements involve risks, including those
associated with the Company's fixed price contracts that impacts
profits, unforeseen productivity delays that may alter the final
profitability of the contract, cancellation of the contract by the
customer for unforeseen reasons, delays or decreases in funding by
the customer, levels and predictability of government funding or
other governmental budgetary constraints, and any potential
contract options which may or may not be awarded in the future, and
are at the sole discretion of award by the customer. Past
performance is not necessarily an indicator of future results. In
light of these and other uncertainties, the inclusion of
forward-looking statements in this press release should not be
regarded as a representation by the Company that the Company's
plans, estimates, forecasts, goals, intentions, or objectives will
be achieved or realized. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. The Company assumes no obligation to update
information contained in this press release whether as a result of
new developments or otherwise, except as required by law.
Please refer to the Company's 2022 Annual Report on
Form 10-K, filed on March 16, 2023, which is available on its
website at www.oriongroupholdingsinc.com or at the SEC's
website at www.sec.gov, for additional and more detailed discussion
of risk factors that could cause actual results to differ
materially from our current expectations, estimates or
forecasts.
Contact:
Financial Profiles, Inc.Margaret Boyce
310-622-8247mboyce@finprofiles.com
Orion (NYSE:ORN)
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から 5 2024 まで 6 2024
Orion (NYSE:ORN)
過去 株価チャート
から 6 2023 まで 6 2024