Shimmick Announces New Contracts in California and Washington

Rhea-AI Summary

Shimmick Corporation (Nasdaq: SHIM) has secured two significant infrastructure contracts totaling $78 million in California and Washington. The company will undertake the $29.6 million Santa Monica Pier Bridge Replacement Project, replacing the 85-year-old Colorado Avenue Bridge with completion scheduled before the 2028 Olympics.

Additionally, Shimmick has been awarded a $48.2 million contract from Sound Transit for the Renton Transit Center project in Washington, which includes construction of a modern transit center with eight bus bays, Battery Electric Bus infrastructure, and dedicated bus lanes.

Positive

• Secured two major contracts totaling $78 million, expanding West Coast presence
• Strategic timing of Santa Monica project completion before 2028 Olympics
• Advancing sustainable infrastructure with Battery Electric Bus capabilities in Renton project
• Strengthening relationship with Sound Transit through repeat business

Negative

• 22-month construction timeline for Santa Monica project may impact tourist access to pier
• Complex project execution required while preserving historical assets

News Market Reaction

+3.65%

1 alert

+3.65% News Effect

+$4M Valuation Impact

$111M Market Cap

0.1x Rel. Volume

On the day this news was published, SHIM gained 3.65%, reflecting a moderate positive market reaction. This price movement added approximately $4M to the company's valuation, bringing the market cap to $111M at that time.

Data tracked by StockTitan Argus on the day of publication.

Approximately $78 million in new contracts for the iconic Santa Monica Pier and Renton Transit Center highlight Shimmick’s expertise and West Coast growth

IRVINE, Calif., Sept. 16, 2025 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a national leader in complex infrastructure solutions, has been selected for award on two new contracts that highlight its expertise in delivering critical transportation projects: the Santa Monica Pier Bridge Replacement Project in California and the Renton Transit Center Project in Washington.

Together, these projects reinforce Shimmick’s leadership in building resilient, sustainable infrastructure that enhances community mobility, safeguards historic landmarks, and supports regional growth ahead of global events like the 2028 Los Angeles Summer Olympics.

“These two projects reflect the breadth of Shimmick’s expertise — from preserving access to one of the nation’s most iconic landmarks to building modern transit systems that support sustainable mobility,” said Ural Yal, CEO of Shimmick. “We are honored to partner with the City of Santa Monica for the first time and with Sound Transit again to deliver projects that not only improve safety and connectivity but also create lasting value for communities.”

Santa Monica Pier Bridge Replacement

Shimmick was selected for the $29.6 million Santa Monica Pier Bridge Replacement Project, which will replace the 85-year-old Colorado Avenue Bridge — the only vehicular and pedestrian access point to the iconic Santa Monica Pier. Shimmick will construct a new bridge, demolish the old one, enhance pedestrian access, and restore the historic Santa Monica Pier Arched Neon Sign while safeguarding historic assets. Work is expected to begin in the last quarter of 2025 and will take 22 months, with completion scheduled before the Los Angeles 2028 Summer Olympics.

Renton Transit Center

This $48.2 million contract by Sound Transit is for the Renton Transit Center and Roadway Improvements project in Renton, Washington. The project encompasses the construction of a state-of-the-art transit center designed to support the Puget Sound region’s growing mobility needs, including a new bus bay island with capacity for eight active bays and a custom steel canopy structure, infrastructure development for a Battery Electric Bus (BEB) equipment yard to advance sustainable transit, and roadway improvements to create a dedicated bus-only lane. This investment is expected to significantly improve commuter mobility, reduce congestion, and advance Sound Transit’s long-term sustainability goals.

About Shimmick
Shimmick (NASDAQ: SHIM) is an industry leader in delivering turnkey infrastructure solutions that strengthen critical markets across water, energy, climate resiliency, and sustainable transportation. We integrate technical excellence with collaborative project delivery methods to provide innovative, technology-driven infrastructure solutions that accelerate economic growth and empower communities nationwide. With a track record that spans over a century, Shimmick, headquartered in California, unites deep engineering heritage with entrepreneurial spirit to tackle today's most complex infrastructure challenges. For more information, visit shimmick.com.

Investor Relations:
IR@shimmick.com
1-949-704-2350

Media Contact:
Tonya Sandman
tonya.sandman@shimmick.com

FAQ

What are the new contracts Shimmick (SHIM) won in September 2025?

Shimmick won two contracts: a $29.6 million Santa Monica Pier Bridge Replacement Project in California and a $48.2 million Renton Transit Center Project in Washington.

When will Shimmick complete the Santa Monica Pier Bridge Replacement?

The project will take 22 months and is scheduled for completion before the 2028 Los Angeles Summer Olympics.

What is the scope of Shimmick's Renton Transit Center project?

The project includes construction of a transit center with eight bus bays, Battery Electric Bus infrastructure, a custom steel canopy structure, and dedicated bus lanes.

How much is the total value of Shimmick's new infrastructure contracts?

The combined value of the two contracts is $78 million, with $29.6 million for Santa Monica and $48.2 million for Renton.

What sustainability features are included in Shimmick's new projects?

The Renton Transit Center project includes Battery Electric Bus (BEB) equipment yard infrastructure to advance sustainable transit operations.