Shimmick Construction Shares Rise After Bridge Retrofitting Contract

Dow Jones12-03

By Chris Wack

Shimmick Construction shares were up 52% to $4.25 in premarket trading after the company said it has been awarded a $45.4 million contract to complete extensive seismic retrofitting and improvements to the Murray Street Bridge at the Santa Cruz Small Craft Harbor in Santa Cruz, Calif.

The infrastructure company said the project will improve the bridge's seismic resilience while increasing accessibility for cyclists and pedestrians.

The Irvine, Calif., company said the project includes installation of new piles, extended pile caps, new columns, and bent caps.

Shimmick shares closed Monday's session 19% higher, and were down 54% in the past 12 months at Monday's close.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

December 03, 2024 07:59 ET (12:59 GMT)

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