Parsons Awarded Contract to Support Caltrans Transportation Facilities
Rhea-AI Summary
Parsons (NYSE: PSN) has been awarded a $23 million contract by the California Department of Transportation (Caltrans) to provide engineering and inspection services for structure construction projects in Districts 1, 2, and 3-North. The contract extends Parsons' long-standing relationship with Caltrans, dating back to 2007, focusing on bridge rehabilitation, new bridge construction, and retaining walls.
The project aims to improve California's transportation system through roadway rehabilitation, new facility construction, and infrastructure modifications. This initiative is particularly significant with upcoming high-profile events like the Olympics and World Cup. Parsons brings extensive experience, having completed over 10,000 miles of roadways, 4,500 bridges, and more than 50 advanced traffic management system deployments.
Positive
- Secured new $23 million contract with Caltrans
- Continues long-term relationship with Caltrans since 2007
- Strategic timing with upcoming major events (Olympics and World Cup)
Negative
- None.
News Market Reaction
On the day this news was published, PSN declined 0.76%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
CHANTILLY, Va. , Dec. 11, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that California Department of Transportation (Caltrans) has selected the company to perform professional and technical services. This
“Parsons has worked with the Caltrans for decades to improve California’s transportation system and provide greater mobility throughout the state,” said Mark Fialkowski, president of Infrastructure North America for Parsons. “With multiple high-profile events coming in the near future, including the Olympics and World Cup, Parsons is ready to support California in ensuring the infrastructure is in place to allow for an efficient, safe, and positive experience.”
Parsons has performed similar services for Caltrans since 2007, providing construction engineering and inspection services for bridge rehabilitation projects, new bridge construction projects and retaining walls. The project will improve the State transportation system, including roadway rehabilitation, construction of new facilities, and widening, realigning and relocating existing facilities.
Parsons has decades of experience designing, delivering, and protecting the infrastructure that connects our communities around the world, including roads and highways; bridges; passenger and freight rail; public transit; airports; and ports and waterways. Our experience includes more than 10,000 miles of roadways, 4,500 bridges, and more than 50 advanced traffic management system deployments that help cities and states improve safety and travel efficiency while also reducing emissions and energy costs to enhance the quality of life in the communities we serve.
To learn more about Parsons’ transportation expertise, visit https://www.parsons.com/transportation/.
About Parsons
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.
Media Contact:
Lexus K. White
+1 470.510.6690
Lexus.White@parsons.com
Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
Dave.Spille@parsons.us
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