Smith-Midland Receives Over $8M in J-J Hooks Barrier Rental Contracts in Virginia

Rhea-AI Summary

Smith-Midland (NASDAQ:SMID) has secured over $8 million in contracts to rent J-J Hooks precast concrete barriers through its Concrete Safety Systems (CSS) division. The projects involve three separate installations for the Virginia Department of Transportation (VDOT) in Fairfax and New Kent Counties. The New Kent County project includes barrier installation for the I-64 corridor widening, extending through 2026. CSS crews can install up to 4,800 linear feet of barrier overnight. The J-J Hooks system, which meets Federal Highway Administration's MASH TL-3 standards, has been installed for over 16 million linear feet worldwide.

Positive

• Secured over $8 million in new rental contracts
• Multi-year project extending through 2026
• Demonstrated operational efficiency with 4,800 linear feet overnight installation capability
• Product meets Federal Highway Administration standards

Negative

• None.

Insights

Financial Analyst

This $8 million contract win represents a significant revenue boost for Smith-Midland, equating to approximately 3% of their market cap. The multi-year nature of these projects, extending through 2026, provides stable, recurring revenue streams through their CSS rental division. The contracts demonstrate strong market positioning in Virginia's infrastructure development sector and highlight the company's ability to secure large-scale government contracts.

The operational efficiency of installing up to 4,800 linear feet of barrier in a single overnight shift showcases scalability and cost-effectiveness. Working with established contractors like Allan Myers and Branch Civil strengthens their market presence and could lead to additional contract opportunities. The J-J Hooks system's MASH TL-3 certification and widespread adoption (16 million linear feet installed) indicate a strong competitive advantage in the safety barrier market.

MIDLAND, VA / ACCESSWIRE / December 3, 2024 / Smith-Midland Corporation (NASDAQ:SMID), a provider of innovative, high-quality proprietary and patented precast concrete products and systems has begun renting its J-J Hooks precast concrete barrier to the Virginia Department of Transportation (VDOT), as part of three separate projects in Virginia. The total value of the projects through its Concrete Safety Systems (CSS) rental division is over $8 million.

CSS will deliver, install, and service J-J Hooks precast concrete freestanding and pinned barriers, and attenuators, ensuring clear direction for motorists and enhanced safety for workers across Fairfax and New Kent Counties, VA.

For New Kent County, CSS will provide barrier for the Gap C portion of the widening project along the I-64 corridor, expanding the Interstate between Richmond and Hampton Roads from two to three lanes, and is expected to last through 2026. CSS will be servicing the Fairfax County Parkway and Popes Head Road Interchanges in Fairfax County.

"We are proud to continue supporting VDOT projects with our rental barriers and services," said Matthew Smith, President of Concrete Safety Systems. "These initiatives are designed to alleviate congestion in high-traffic areas while promoting economic growth. At Concrete Safety Systems, we remain dedicated to providing high-quality products and services-a commitment that our partners consistently acknowledge through their continued trust in us."

These projects involve CSS collaborating with general contractors Allan Myers and Branch Civil, as well as the Virginia Department of Transportation (VDOT). The size and scope of the specifications showcase the expertise of CSS crews, who can safely and efficiently deliver and install up to 4,800 linear feet of barrier in a single overnight shift.

Specified and approved across North America, the patented J-J Hooks Precast Concrete Safety Barrier system is the most economical and easiest to install, with fast connections, no loose hardware, and rapid reconfiguration. More than 16 million linear feet have been installed worldwide. The barrier meets the Federal Highway Administration's MASH TL-3 testing standards and is also available in freestanding, bolt-down, and low-profile versions, designed by Easi-Set Industries, a division of Smith-Midland Corporation.

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.

Media Inquiries:
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 Corporation

View the original press release on accesswire.com

FAQ

What is the value of Smith-Midland's (SMID) new barrier rental contracts in Virginia?

Smith-Midland (SMID) secured over $8 million in J-J Hooks barrier rental contracts for three separate projects in Virginia.

Where are Smith-Midland's (SMID) new barrier projects located in Virginia?

The projects are located in Fairfax and New Kent Counties, Virginia, including the I-64 corridor and Fairfax County Parkway and Popes Head Road Interchanges.

How long will Smith-Midland's (SMID) New Kent County project last?

The New Kent County project, which involves widening I-64 from two to three lanes, is expected to last through 2026.

How much barrier can Smith-Midland's (SMID) CSS crews install in one night?

CSS crews can safely and efficiently deliver and install up to 4,800 linear feet of barrier in a single overnight shift.