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Shimmick Launches Axia Electric LLC to Expand Specialized Electrical Offerings Across Infrastructure Markets

1. Shimmick launched Axia Electric, a new electrical subsidiary. 2. The subsidiary aims to meet market demand for power distribution solutions. 3. Recent electrical contracts awarded total $42 million, expanding their portfolio. 4. Shimmick's active electrical projects exceed $380 million, indicating significant growth. 5. Axia Electric will focus on delivering specialized electrical expertise across various sectors.

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FAQ

Why Bullish?

The launch of Axia Electric and substantial new contracts signal strong growth potential, similar to how expansions in similar companies have driven stock values higher in the past.

How important is it?

The substantial contracts and new subsidiary create significant growth opportunities, influencing investor confidence and potential market performance.

Why Long Term?

This strategic move positions Shimmick to capture ongoing demand in the growing electrical market, which could lead to sustained revenue increases over time.

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Shimmick has recently received electrical contracts totaling $42 million, with total electrical work under contract exceeding $380 million June 23, 2025 16:05 ET  | Source: Shimmick Corporation IRVINE, Calif., June 23, 2025 (GLOBE NEWSWIRE) -- Shimmick Corporation (“Shimmick” or the “Company”) (Nasdaq: SHIM), a national leader in complex infrastructure solutions, is proud to announce the launch of Axia Electric LLC (Axia Electric), a dedicated electrical subsidiary designed to meet growing market demand for specialized, high-performance electrical and power distribution solutions. Axia Electric builds on more than 20 years of Shimmick’s proven success delivering complex electrical systems for clients across the public and private sectors—including municipalities, airports, ports, technology companies, developers, and industrial manufacturers. The new standalone entity will serve low- and medium-voltage markets, with an additional focus on commissioning and operations and maintenance (O&M) services. “Our electrical team has a longstanding track record of delivering outstanding results on some of the nation’s most critical infrastructure,” said Ural Yal, CEO of Shimmick. “With Axia Electric, we’re sharpening that focus to better serve a growing market and increasing demands from our customers for our electrical and power services. Axia allows us to scale in this high-demand market and deliver greater value to our clients who are increasingly seeking specialized electrical expertise and complement our offering with Shimmick’s proven heavy civil capabilities.” Axia Electric will serve a range of infrastructure markets, including water, industrial, mission-critical, aviation, transportation, transit, and energy. The subsidiary’s self-perform model, strong safety culture, and ability to deliver turnkey solutions offer our clients the best possible budget and schedule outcomes. “With more than 150 skilled employees and an industry-leading track record in safety and quality, Axia Electric will be well-positioned to grow and lead,” said Fernando DeLeon, President of Axia Electric. “In this growing segment of the industry, our clients are demanding more from their contractor partners—and we’re ready to meet that demand with focus, expertise, and agility.” Under the leadership of Mr. DeLeon, Shimmick is proud to announce recent electrical contract awards totaling $42 million. These include projects for the Orange County Sanitation District, the San Francisco Public Utilities Commission, and the City of Santa Cruz in California, as well as Redwood Materials in Nevada. Currently, Shimmick has over $380 million in active electrical construction projects under contract. The company is enthusiastic about the growth opportunities presented by Axia Electric LLC, which builds on Shimmick's extensive electrical expertise. Media Contact:Tonya Sandman, Director of Marketing & Communicationstonya.sandman@shimmick.com Investor Relations Contact:1-949-704-2350IR@shimmick.com

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