Shimmick Awarded $27.6 Million Subcontract for Sunol Valley Water Treatment Plant Ozonation Project
Rhea-AI Summary
Shimmick (Nasdaq: SHIM) has secured a $27.6 million subcontract for electrical work on the Sunol Valley Water Treatment Plant Ozonation project. This is part of a larger $234.8 million prime contract awarded to J.F. Shea Construction by the San Francisco Public Utilities Commission. The project, located in Sunol, Alameda County, aims to improve water quality for millions of Bay Area residents.
Shimmick's scope includes installing high-voltage power systems, instrumentation, and controls for the new ozonation facility. The project involves constructing an Ozone Generator Building, an Ozone Contact Basin, and supporting systems. This ozonation system will provide additional primary disinfection, improve treatment reliability, and offer protection against potential emerging contaminants.
Positive
- Secured a $27.6 million subcontract for electrical work
- Part of a larger $234.8 million prime contract
- Demonstrates expertise in complex water treatment projects
- Leverages in-house capabilities for specialized electric work
- Project improves water quality for millions of Bay Area residents
Negative
- None.
News Market Reaction
On the day this news was published, SHIM gained 52.17%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
IRVINE, Calif., July 16, 2024 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a leading water infrastructure company, today announced that it has signed a
The project, located in Sunol, Alameda County, aims to control the taste and odor of raw water supplied to the Sunol Valley Water Treatment Plant. It involves the construction of an ozone treatment facility and associated infrastructure, including an Ozone Generator Building, an Ozone Contact Basin, and various supporting systems. Shimmick's scope of work includes installing high-voltage power systems, and instrumentation and controls for the new ozonation facility.
"We are thrilled to be part of this critical infrastructure project that will significantly improve water quality for millions of Bay Area residents," said Steve Richards, Chief Executive Officer. "This contract underscores our expertise in complex water treatment projects and our ability to perform critical specialized electric work that leverages our in-house capabilities."
This project represents a significant investment in improving water quality for the San Francisco Bay Area. The ozonation system will provide additional primary disinfection, improve treatment reliability, and offer an extra barrier against potential emerging contaminants of concern.
About Shimmick
Shimmick (NASDAQ: SHIM) is a leading provider of water infrastructure solutions nationwide. Shimmick has a long history of working on complex water projects, ranging from the world’s largest wastewater recycling and purification system in California to the iconic Hoover Dam. Shimmick is led by industry veterans, many with over 20 years of experience, and works closely with its customers to deliver complete solutions, including long-term operations and maintenance.
Media Contact:
Tonya Sandman
303-478-4987
Tonya.sandman@shimmick.com
Investor Contact:
Investor Relations
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FAQ
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