Smith-Midland Producing $2M in SlenderWall for Newport News Shipyard Project

Rhea-AI Summary

Smith-Midland Corporation (NASDAQ:SMID) has secured a $2 million contract to manufacture SlenderWall precast concrete panels for the Naval Sea Systems Command (NAVSEA) Refueling and Complex Overhaul building in Newport News, VA. The company's SlenderWall system is an innovative architectural precast concrete cladding solution that combines multiple components into a single lightweight panel, including interior framing, insulation, and vapor barrier. The project will create a facility featuring office spaces, a fitness center, and counseling offices for sailors and shipbuilders during RCOH operations. The all-in-one system offers advantages like reduced installation time, lower costs, enhanced sustainability, and improved energy efficiency.

Positive

• Secured $2 million contract for SlenderWall panel manufacturing
• Project demonstrates commercial viability of SlenderWall technology
• Contract with NAVSEA adds credibility and potential for future government contracts

Negative

• None.

Insights

Manufacturing/Industrial Analyst

Smith-Midland secures $2M contract to supply advanced precast concrete panels for Newport News Shipyard, showcasing product versatility and government sector penetration.

Smith-Midland's $2M contract to provide SlenderWall panels for the Naval Sea Systems Command (NAVSEA) facility in Newport News represents a solid application of their integrated precast technology in the government sector.

The project highlights the company's ability to secure contracts with federal entities, which typically offer revenue stability and potential for recurring business relationships. The RCOH building project demonstrates the versatility of the SlenderWall system, which combines architectural precast concrete, interior framing, insulation, and vapor barriers into a single prefabricated panel.

This contract showcases Smith-Midland's position in the specialty construction materials market, particularly for projects requiring efficiency and sustainability advantages. The all-in-one design that eliminates multiple trades on-site addresses the construction industry's ongoing labor challenges while potentially accelerating project timelines.

From a business perspective, government contracts like this one can provide operational stability and strengthen the company's project portfolio when marketing to similar clients. The specialized nature of military and naval facilities also demonstrates the adaptability of Smith-Midland's products to meet stringent requirements.

While the $2M value represents concrete near-term revenue, the more significant aspect may be the strategic positioning within the government infrastructure segment, which could yield additional opportunities as federal construction spending continues.

MIDLAND, VA / ACCESS Newswire / May 1, 2025 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems, will begin manufacturing SlenderWall precast concrete panels for the Refueling and Complex Overhaul (RCOH) building for Naval Sea Systems Command (NAVSEA) in Newport News, VA.

"We look forward to providing our SlenderWall panels to the Shipyard project in Newport News, Virginia. Our all-in-one precast system not only reduces installation time and costs but also enhances the building's sustainability and longevity. Our collaboration on this project highlights our dedication to providing cutting-edge, efficient solutions that meet the evolving needs of modern construction," said Matthew Smith, Vice President of Sales and Marketing at Smith-Midland.

SlenderWall is an advanced, all-in-one architectural precast concrete cladding system designed to deliver superior performance with significant cost savings. Engineered for efficiency, it integrates architectural precast concrete, interior framing, insulation, and a vapor barrier into a single, lightweight panel, eliminating the need for multiple trades and reducing on-site labor. Its innovative design not only accelerates construction timelines but also enhances sustainability by minimizing material waste and improving energy efficiency. With a durable, maintenance-friendly build that meets modern green building standards, SlenderWall is the smart choice for developers seeking a high-performance, cost-effective, and environmentally responsible façade solution.

"The building will provide dedicated space near the ship that will include office spaces for sailors and shipbuilders, as well as a fitness center, counseling offices, and other areas sailors can utilize while executing RCOH," said a spokesperson for NAVSEA.

About Smith-Midland Corporation

Smith-Midland develops, manufactures, licenses, rents, and sells a broad array of precast concrete products and systems for use primarily in the construction, transportation, and utility industries.

Smith-Midland Corporation has three manufacturing facilities in; Midland, VA, Reidsville, NC, and Columbia, SC, and a J-J Hooks^® Safety Barrier rental firm, Concrete Safety Systems. Easi-Set Worldwide, a wholly owned subsidiary of Smith-Midland Corporation, licenses the production and sale of Easi-Set products, including J-J Hooks and SlenderWall^®, and provides diversification opportunities to the precast industry worldwide. For more information, please call (540) 439-3266 or visit www.smithmidland.com.

Forward-Looking Statements

This announcement contains forward-looking statements, which involve risks and uncertainties. The Company's actual results may differ significantly from those discussed in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, product demand, the impact of competitive products and pricing, capacity and supply constraints or difficulties, the uncertainties arising from the policies of the new Administration and DOGE, the risk of less government spending on infrastructure than anticipated, inflationary factors including potential recession, our material weaknesses in internal controls, general business and economic conditions, our debt exposure, our high level of accounts receivables, the effect of the Company's accounting policies and other risks detailed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

Media Inquiries:
Sarah Crandall
scrandall@midlandadvertising.com
(540) 439-8056

Sales Inquiries:
info@smithmidland.com
(540) 439-3266

Investor Relations:
Steven Hooser or John Beisler
Three Part Advisors, LLC
(214) 872-2710

SOURCE: Smith-Midland

View the original press release on ACCESS Newswire

FAQ

What is the value of Smith-Midland's (SMID) Newport News Shipyard contract?

Smith-Midland's contract for the Newport News Shipyard project is valued at $2 million for manufacturing SlenderWall precast concrete panels.

What is Smith-Midland's (SMID) SlenderWall system?

SlenderWall is an all-in-one architectural precast concrete cladding system that integrates concrete panels, interior framing, insulation, and vapor barrier into a single lightweight panel, reducing installation time and improving energy efficiency.

Who is the client for Smith-Midland's (SMID) latest SlenderWall project?

The client is Naval Sea Systems Command (NAVSEA), for their Refueling and Complex Overhaul building in Newport News, VA.

What are the benefits of Smith-Midland's (SMID) SlenderWall system?

SlenderWall offers reduced installation time and costs, enhanced sustainability, improved energy efficiency, and eliminates the need for multiple trades by combining multiple components into a single panel.