Skip to main content

Orion Group Holdings, Inc. Announces Contract Wins Totaling $134 Million

Written by Customer Service on . Posted in Public Companies.

Concrete segment secures awards totaling $100 million in core markets of Dallas and Houston

Largest diving services contract in Company history

HOUSTON, March 10, 2023 (GLOBE NEWSWIRE) — Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”), a leading specialty construction company, today announced multiple contract awards totaling $134 million, with the majority of this work to be completed in 2023.

Since the beginning of 2023, the Concrete segment has been awarded $100 million across several contracts including $25 million for a 22-story high-rise building in Houston, $12 million for a Dallas hospital, and $10 million for a Dallas packaging center.

The Marine segment was awarded the Company’s largest diving services contract of $20 million by a private client. The project is in support of the US Army Corps of Engineers’ ongoing deepening and widening of Gulf Coast shipping channels. The contract award is the largest diving contract in Orion’s history and will be completed by the end of 2023. For this project, Orion’s world-class specialty divers will remove 31 pipelines from the ship channel floor.

In addition, the Marine segment has been awarded contract wins on several projects totaling $14 million and was the bid winner on a $7 million dredging procurement by the US Army Corps of Engineers in the Gulf of Mexico.

“2023 is off to strong start with high-quality project wins in both of our business segments,” said Travis Boone, Chief Executive Officer of Orion Group Holdings, Inc. “Refocusing our Concrete business in the Dallas and Houston markets is delivering results. In our Marine business, we’re excited to participate in this important pipeline project that will ultimately accommodate larger ships servicing the Gulf Coast. Our specialty divers are the best in the industry with an outstanding record for performance and safety.”

About Orion Group Holdings, Inc.

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including place and finish, site prep, layout, forming, and rebar placement for large commercial, structural and other associated business areas. The Company is headquartered in Houston, Texas with regional offices throughout its operating areas.

Contacts:
Financial Profiles, Inc.
Margaret Boyce 310-622-8247
orn@finprofiles.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.