Orion Marine Group announces $134 million in contract wins By Investing.com

Orion Marine Group (ORN) announces $134 million in contract wins

Orion Group Holdings, Inc. (NYSE:) 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.”