Smith-Midland wins $4 million barrier contract for I-64 project

MIDLAND, VA - Smith-Midland Corporation (NASDAQ:SMID), a construction products manufacturer with a market capitalization of $188.6 million and currently rated as slightly undervalued according to InvestingPro Fair Value metrics, announced Tuesday that its Concrete Safety Systems (CSS) division has secured a contract worth more than $4 million to provide J-J Hooks highway barriers for the I-64 Hampton Roads Express Lanes project in Virginia. The company maintains a perfect Piotroski Score of 9, indicating strong financial health.

The company will supply precast concrete barriers and crash cushions for the Gap B portion of the ongoing interstate widening project, which aims to expand I-64 from two to three lanes between Central Virginia and Hampton Roads through 2026.

CSS is working with Shirley Contracting Company and the Virginia Department of Transportation (VDOT) on the project. According to the company, its team can deliver and install up to 4,800 linear feet of J-J Hooks precast barrier in a single overnight shift.

"We are pleased that Concrete Safety Systems has been chosen to continue providing concrete barrier for the I-64 Expansion in Virginia," said Matthew Smith, President of Concrete Safety Systems, in a press release statement.

Smith-Midland develops, manufactures, licenses, rents, and sells precast concrete products primarily for the construction, transportation, and utility industries. The company operates manufacturing facilities in Midland, VA, Reidsville, NC, and Columbia, SC.

The announcement represents a continuation of the company’s involvement in the multi-year I-64 expansion project, which is a significant infrastructure initiative in the Commonwealth of Virginia.

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