Shimmick Secures $256 Million for Water Infrastructure Projects in California and Texas
Shimmick Corporation has secured $256 million in infrastructure projects focused on water systems in California and Texas. This includes the $180 million Vista Grande Drainage Basin Improvements Project in Daly City and the $32 million Napa River Flood Protection Project in Napa, California. Additionally, the company will subcontract for the $44 million Walnut Creek Wastewater Treatment Plant Expansion in Austin, Texas, aimed at increasing treatment capacity to accommodate population growth.
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Shimmick Corporation has been awarded approximately $256 million in infrastructure projects in California and Texas, focusing on water systems. In California, the company will execute the $180 million Vista Grande Drainage Basin Improvements Project in Daly City to enhance stormwater infrastructure and the $32 million Napa River Flood Protection Project to build floodwalls protecting over 2,000 homes.
In Texas, Shimmick will subcontract on the $44 million Walnut Creek Wastewater Treatment Plant Expansion in Austin, increasing the plant's capacity to 100 million gallons per day. Shimmick's financial performance shows challenges, including a -12.33% net margin and an Altman Z-Score of 0.84, indicating potential bankruptcy risk.
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