Published on 13 Mar 2023 on Zacks via Yahoo Finance
Orion (ORN) Wins Multiple Deals, Aids Concrete & Marine Unit
Orion Group Holdings, Inc. ORN has won several contracts with a combined value of approximately $134 million within its Concrete and Marine segments.Under the Concrete unit, Orion received contracts worth $100 million, 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.Within the Marine business, the company has won its largest diving services contract, worth $20 million, from a private client to support the U.S. Army Corps of Engineers’ ongoing deepening and widening of Gulf Coast shipping channels. The contract will be completed by the end of 2023. Orion’s world-class specialty divers will remove 31 pipelines from the ship’s channel floor.Also, the Marine segment received several projects with a value of $14 million and won a bid on a $7 million dredging procurement by the U.S. Army Corps of Engineers in the Gulf of Mexico.Travis Boone, chief executive officer of Orion, said, “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.”
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