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Investing.com -- Orion Group Holdings, Inc. (NYSE:ORN) stock surged 20% after the specialty construction company announced it has secured new contract awards totaling over $120 million.
The Houston-based company reported that the new contracts were evenly distributed between its Marine and Concrete segments. The Marine awards included maintenance dredging for the U.S. Army Corps of Engineers, repair work on a marine transportation facility, and installation of a crane trestle for a major transportation project. Meanwhile, the Concrete segment secured multiple data center projects along with several manufacturing and healthcare contracts.
Travis Boone, Chief Executive Officer of Orion Group Holdings, highlighted the company’s continued success in executing complex projects. "Our unwavering commitment to safety, quality, and timely delivery is not only earning the trust of our clients, but also securing Orion’s position as the specialty construction provider of choice," Boone said.
The company also announced its upcoming participation in D.A. Davidson’s 24th Annual Diversified Industrials & Services Conference, scheduled for September 18-19, 2025, in Nashville, Tennessee. Management will take part in a fireside chat on September 18.
Orion Group Holdings specializes in marine construction and concrete services, with the latter showing particularly strong demand in the data center sector, according to the company’s announcement.
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