Southland Awarded and Given Notice to Proceed on New Projects Valued at $290 Million
October 12 2022 - 4:35PM
Southland Holdings, LLC (“Southland”) announced today that it has
been awarded and given notice to proceed on $290 million of new
projects during the year to date, which consist of the following
projects:
Transportation Segment:
- Table Rock Bridge:
$67 million steel plate girder bridge project over Table Rock Lake
in Ridgedale, Missouri for the Missouri Department of
Transportation through subsidiary, American Bridge Company
- East Haddam Swing
Bridge: $55 million swing bridge rehabilitation project
over the Connecticut River for the Connecticut Department of
Transportation through subsidiary, American Bridge Company
Civil Segment:
- Arcadia Intake & Low
Lift: $66 million raw water intake microtunnel and pump
station project in Arcadia, Oklahoma for the City of Edmond through
subsidiary, Oscar Renda Contracting
- Atoka Pipeline: $42
million 70,000 ft of 72” water pipeline project in Atoka, Oklahoma
for the City of Oklahoma City through subsidiary, Oscar Renda
Contracting
- Connor Creek: $50
million slip lining project up to 144” in diameter in Detroit,
Michigan for the Great Lakes Water Authority through subsidiary,
Oscar Renda Contracting
- Montana Pipeline:
$10 million water resource project in El Paso, Texas for El Paso
Water through subsidiary, Oscar Renda Contracting
The following job starts, which total $230 million, were
included in Southland’s backlog as of June 30, 2022: Table Rock
Bridge, East Haddam Swing Bridge, Arcadia Intake & Low Lift,
and Atoka Pipeline.
Connor Creek and Montana Pipeline, which total $60 million, were
not included in Southland’s backlog as of June 30, 2022, but were
identified as pending backlog additions in Southland’s Investor
Presentation, dated September 19, 2022, that was filed with the
Securities and Exchange Commission on Form 8-K.
Southland’s CEO Frank Renda said, “Bidding activity continues to
accelerate through the second half of the year with an improved
competitive landscape. We have been awarded and given notice to
proceed on projects in several of our end markets and multiple
geographic regions throughout North America.”
About Southland
Southland is a leading provider of specialized infrastructure
construction services across North America including bridges,
tunneling, transportation and facilities, marine, steel structures,
water and wastewater treatment, and water pipeline end markets.
With roots dating back to 1900, Southland and its subsidiaries form
one of the largest infrastructure construction companies in North
America, with experience throughout the world. Southland is
headquartered in Grapevine, Texas.
On May 25th, 2022, Southland entered into an Agreement and Plan
of Merger (the “Agreement”) with publicly-traded Legato Merger
Corp. II, a special purpose acquisition company (NASDAQ: LGTO,
LGTOU, and LGTOW) (“Legato”). Pursuant to the terms of the
Agreement, a subsidiary of Legato will merge with and into
Southland, with Southland surviving the merger as a wholly-owned
subsidiary of Legato. The existing Southland management team will
remain in place upon the closing of the merger. At such time,
Legato’s name is expected to change to Southland Holdings, Inc.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on Southland’s current
beliefs, expectations and assumptions regarding the future of
Southland’s business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of Southland’s control. Southland’s actual
results and financial condition may differ materially from those
indicated in the forward-looking statements. Therefore, you should
not rely on any of these forward-looking statements.
Any forward-looking statement made by Southland in this press
release is based only on information currently available to
Southland and speaks only as of the date on which it is made.
Southland undertakes no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
Southland
Contacts: |
|
Cody GallardaEVP, Chief Financial
Officercgallarda@southlandholdings.com |
Alex MurrayCorporate Development
& Investor Relationsamurray@southlandholdings.com |
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