1. Shimmick awarded two major projects worth $81.5 million in Los Angeles. 2. Projects include water and electrical infrastructure upgrades for sustainability. 3. Construction expected to begin in 2026 after permitting completes. 4. CEO emphasizes improvements in community sustainability and infrastructure resilience. 5. Shimmick continues to be a leader in integrated civil and electrical solutions.
FAQ
Why Bullish?
Winning substantial contracts indicates strong demand and future revenue growth, akin to historical projects that boosted SHIM’s stock performance.
How important is it?
The awarded projects signify growth potential and commitment to sustainability, pivotal for investor confidence and stock valuation.
Why Long Term?
The projects will positively influence earnings over multiple years, similar to how previous infrastructure contracts showed sustained financial benefit.
Shimmick Corporation Named Preferred Bidder for $81.5 Million Infrastructure Projects in Los Angeles
IRVINE, Calif., December 16, 2025 (GLOBE NEWSWIRE) -- Shimmick Corporation (NASDAQ: SHIM), a national leader in complex infrastructure solutions, has secured its position as the preferred bidder for two major projects in the Los Angeles market. The total value of these projects amounts to approximately $81.5 million, focusing on critical water and electrical infrastructure improvements.
Details of the Awarded Projects
These newly awarded projects underline the growing demand for Shimmick's expertise in integrated civil and electrical delivery capabilities, which are crucial for sustainable infrastructure development.
- Berths 49–51 Outer Harbor Cruise Terminal Development - $61.3 million
- Palmdale Water Reclamation Plant Influent Pump Station Modifications - $20.2 million
Significance of the Projects
Ural Yal, Chief Executive Officer of Shimmick, stated, "These projects reflect continued investment in essential water and electrical infrastructure that supports long-term resilience." He emphasized the company’s commitment to enhancing sustainability and performance through public-private partnerships, which significantly benefit local communities.
Project Highlights
The projects include critical upgrades and improvements:
- Berths 49–51 Outer Harbor Cruise Terminal: This project involves major electrical, structural, and civil enhancements, aimed at implementing shore power known as Alternative Maritime Power (AMP). Key components include:
- Construction of a new 34.5-kV industrial station by the Los Angeles Department of Water and Power (LADWP)
- Installation of medium-voltage switchgear and shore power infrastructure
- Concrete wharf repairs and upgrades to enhance safety and security
- Additional improvements for pedestrian and vehicular access
- Palmdale Water Reclamation Plant Modifications: Upgrades to the influent pumping and electrical systems, along with the construction of a new utility building, are set to enhance operational reliability and improve water reclamation services for the region.
This project is designed to strengthen aging marine infrastructure, allowing vessels to connect to shore power while docked, thereby significantly reducing emissions.
Expected Timeline for Construction
Construction on both projects is anticipated to commence in 2026, following the finalization of permitting and preconstruction activities. These initiatives are expected to play a pivotal role in improving local infrastructure, directly impacting community resilience and sustainability.
About Shimmick Corporation
Shimmick Corporation (NASDAQ: SHIM) excels in delivering turnkey infrastructure solutions that strengthen vital markets across water, energy, climate resilience, and sustainable transportation sectors. The company combines technical proficiency with collaborative project methodologies to create innovative, technology-driven infrastructure solutions. With over a century of experience, Shimmick is committed to meeting the complex infrastructure challenges of today while promoting economic growth and community empowerment throughout the nation.
For more information, visit www.shimmick.com.
Contact Information
Investor Relations: IR@shimmick.com | Phone: 1-949-704-2350
Media Contact: Lee Ann Ballew | LeeAnn.Ballew@shimmick.com