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NV5 Awarded $12 Million in New Infrastructure Contracts by New York City Department of Design and Construction

1036 Days ago

HOLLYWOOD, Fla., Aug. 29, 2019 (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 was awarded three contracts for engineering design and construction inspection services totaling approximately $12 million by the New York City Department of Design and Construction (NYCDDC). All three assignments were awarded through master services agreements held with the agency and have a project duration of approximately three years.

NV5 will provide engineering expertise for all aspects of the Red Hook Integrated Flood Protection System project in Brooklyn, including the design of infrastructure and coastal structures as well as environmental permitting to assist the City of New York in its economic revitalization and resiliency efforts throughout Red Hook. The project will provide much needed flood protection and resiliency to the Red Hook community, which was devastated in 2012 by Superstorm Sandy.

NV5 will also perform design services for Phase 5 of the Grand Concourse Reconstruction project in the Bronx. This multi-phase project builds on previous efforts to revitalize the Grand Concourse Corridor, a heavily-traveled transit street and connection for densely populated neighborhoods within New York City. 

The NYCDDC also awarded NV5 a construction inspection services contract for the replacement and improvement of sewers and watermains along Park Place and adjoining streets in Brooklyn.

As the City's primary capital construction agency, NYCDDC is responsible for continuously upgrading the City’s infrastructure and many of its civic facilities. NYCDDC provides communities with new or rehabilitated infrastructure, roadways, bridges and civic buildings, such as firehouses, libraries, police precincts, courthouses and senior centers.

“We are proud of the relationship that we have built with the NYCDDC and the unique value that we deliver to the Department,” said Dickerson Wright, PE, Chairman and CEO of NV5. “Long-standing relationships, like the one with NYCDDC, continue to be significant drivers of organic growth throughout NV5.”

“As our largest client in New York City, we have developed a mutually beneficial relationship with NYCDDC, and NV5 will continue to support the City’s focus on infrastructure improvements, while incorporating elements of sustainability and resiliency,” said Joseph Menzer, PE, ENV SP, Director of Engineering at NV5.

“We are pleased that our resident engineering staff is contributing to the safety, durability and functionality of projects that will improve the lives of residents and visitors throughout New York City,” commented Liam Madden, Director of Construction and Utility Services at NV5.

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions ranked #34 in the Engineering News-Record Top 500 Design Firms list. NV5 serves 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 worldwide. 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.

Investor Relations Contact

NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com

Source: NV5 Global, Inc.

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