Williams Industries, Inc. Announces Major Contract Awards; Significant Backlog Increase
FALLS CHURCH, Va., June 6 /PRNewswire/ -- Williams Industries, Inc. (Nasdaq: WMSI - news) today announced its subsidiaries have won several major new contracts totaling more than $11 million. The contracts boost the company's current backlog to more than $36 million, which is a 14% increase in less than 90 days.
Williams Bridge Company was awarded more than $8 million in contracts to fabricate bridge girders for the Route 58 By-Pass over the Dan River in Pittsylvania County, Virginia and the Route 50 (Salisbury Bypass) relocation in Wicomico County, Maryland, as well as several smaller jobs.
Frank E. Williams, III, the company's Chairman and CEO, said he anticipates the company's manufacturing segment, which includes Williams Bridge Company's facilities in Richmond and Manassas, Virginia as well as Piedmont Metal Products' specialty metals manufacturing operations in Bedford, Virginia, will become a more significant portion of the company's business in the next five years. Piedmont currently is more than 50% ahead of its budgeted revenue for the year as a result of the increased demand.
``We are part of what is actually a 'legislated growth industry' right now. Literally billions of dollars are being spent on infrastructure and we fully intend to capture our share,'' Williams said. ``But while these jobs are significant, they only represent a fraction of the work that will be forthcoming not only in infrastructure, but also in construction of biotechnology, telecommunications and other facilities.''
Growth is occurring throughout the corporation. In the past 30 days, Williams Steel Erection Company successfully competed for the National Institutes of Health's new Clinical Research Center, a major addition to its Bethesda, Maryland, complex. A noteworthy number of other important projects also are currently being bid. |
