Shimmick Awarded $51 Million Contract for Bellota Weir Modifications in Stockton, California
Rhea-AI Summary
Shimmick (Nasdaq: SHIM) has secured a $51 million contract from Stockton East Water District for the Bellota Weir Modifications project in Stockton, California. The comprehensive infrastructure project includes construction of a new inflatable Obermeyer gate weir, surface water intake with fish screens, and a vertical slot fish ladder.
The project, located 17 miles downstream of New Hogan Dam, will feature multiple 54-inch pipelines, a fish exclusion embankment, and a low-permeability cutoff wall. These modifications align with SEWD's Calaveras River Habitat Conservation Plan and aim to enhance water reliability while protecting threatened species like Central Valley steelhead and Chinook salmon. Construction is set to begin in 2025.
Positive
- Secured significant $51 million contract for infrastructure project
- Project enhances company's position in water infrastructure and environmental solutions
- Strengthens relationship with government agencies and environmental compliance projects
- Adds to company's backlog and revenue visibility for 2025
Negative
- Project execution subject to permitting and regulatory approvals
- Complex environmental requirements could impact timeline and costs
News Market Reaction 24 Alerts
On the day this news was published, SHIM declined 3.74%, reflecting a moderate negative market reaction. Argus tracked a peak move of +14.8% during that session. Argus tracked a trough of -29.6% from its starting point during tracking. Our momentum scanner triggered 24 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $3M from the company's valuation, bringing the market cap to $78M at that time. Trading volume was exceptionally heavy at 46.4x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Project advances regional water resilience and environmental restoration efforts
IRVINE, Calif., July 22, 2025 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a national leader in complex infrastructure solutions, has been awarded a
The project includes the construction of a new inflatable Obermeyer gate weir across Mormon Slough, a surface water intake with cylindrical fish screens, a vertical slot fish ladder featuring lamprey ramps, and a gravity flow conveyance system comprising multiple 54-inch pipelines. Additional features include a fish exclusion embankment, a low-permeability cutoff wall in the Old Calaveras River, and site improvements designed to support groundwater recharge, water quality, and ecological restoration in the region.
Located approximately 17 miles downstream of New Hogan Dam, the project is a key component of SEWD’s long-term strategy to improve water reliability while enhancing fish habitat on the Calaveras River. The upgrades align with the district’s Calaveras River Habitat Conservation Plan and support compliance with state and federal mandates to protect threatened species, including Central Valley steelhead and Chinook salmon.
“The Bellota Weir project exemplifies how infrastructure can serve both people and the environment,” said Ural Yal, CEO of Shimmick. “By combining advanced water conveyance with ecological safeguards, we’re helping shape the future of water management in California. We’re proud to partner with SEWD on a project that delivers lasting benefits for both communities and ecosystems across the region.”
Construction is expected to commence in 2025, following the completion of final permitting and preconstruction activities.
About Shimmick
Shimmick Corporation (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 www.shimmick.com.
Investor Relations:
IR@shimmick.com
1-949-704-2350
Media Contact:
Tonya Sandman
tonya.sandman@shimmick.com
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