Granite and Port of Woodland Sign Historic Long-Term Lease Agreement for Construction Materials Facility

Granite (NYSE:GVA) has signed a long-term lease with the Port of Woodland to establish a new construction materials facility on a 25-acre site by the Columbia River.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) has executed a long-term lease with the Port of Woodland for a new construction materials facility. The facility will be on a 25-acre site next to the Columbia River, reinforcing Granite’s commitment to the Southwest Washington area home market.

Key Highlights:

Location: The facility will be near Woodland, WA, providing construction materials into the Southwest Washington area construction market.

Market Support: The lease agreement allows Granite to provide construction materials to the market, supporting infrastructure development and growth in the region.

Vancouver Portland Metropolitan Area: Granite’s long-term commitment to the Vancouver Portland Metropolitan area underscores its dedication to serving the community and contributing to economic prosperity.

SW Washington: The facility will enhance Granite’s business operations in Southwest Washington, bolstering its presence and capacity along the Interstate 5 corridor while meeting growing demand in Cowlitz and Clark County.

Sustainability: The Port of Woodland site creates opportunities for Granite to improve resource efficiency and advance sustainability goals related to responsible consumption and production. In partnership with the Port, Granite will expand access to, high-quality asphaltic concrete for the preservation and development of pavement infrastructure that supports the flow of goods and connects communities.

“We are thrilled to partner with the Port of Woodland,” said Brad Estes, Granite Senior Vice President of Construction Materials. “This facility represents a significant investment in our local community, and we look forward to delivering high-quality materials to support transportation infrastructure projects throughout the region. Our asphalt paving manufacturing will utilize up to 40% recycled asphalt pavement (RAP) providing a sustainable product with lower GHG emissions while reducing truck trips and the use of petroleum products.”

Granite’s new facility is expected to begin operations in 2025, providing materials for road construction, building projects, and infrastructure improvements, and will create jobs, stimulate economic activity, and contribute to the region’s prosperity.

Click here to learn more about Granite’s materials business.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite civil construction provider. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, X, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612169799/en/

Granite Contacts
Media
Erin Kuhlman 831-768-4111
Investors
Wenjun Xu - 831-761-7861

Source: Granite