Printer Friendly

KASLER CORP. ANNOUNCES CALTRANS DECISION REGARDING THE POMONA INTERCHANGE PROJECT

 HIHGLAND, Calif., Jan. 26 /PRNewswire/ -- Kasler Corp. (NYSE: KAS), a leader in the highway and heavy construction industry, has received notification by the California Department of Transportation (Caltrans) that it has rejected all bids submitted on the Pomona/Corona Expressway Interchange Project and will readvertise the project for bid at a future date.
 Caltrans stated that it was in the best interest of the state to reject all bids to avert any further delays in meeting its objective to complete this project in a timely and economic manner. Caltrans said the plans, specifications and financing will be reviewed. A new bid date was not given.
 The company, on Oct. 22, 1992, had submitted a low bid of $51.4 million. However, on Jan. 13, 1993, the company was informed that a Caltrans review committee concluded the company's good faith effort to meet the state's Disadvantaged Business Enterprise goal was insufficient.
 Since it is the company's policy to add projects to its backlog only after contract award, the Pomona project was not added to backlog, which stood at $120 million as of Oct. 31, 1992.
 Kasler Corp. is a general contractor engaged in the construction of concrete roadways, rapid transit, bridges and other infrastructure-related projects, including airport runways and water control distribution facilities.
 -0- 1/26/93
 /CONTACT: John Cash, CFO, or Richard Guiss, investor relations, of Kasler, 909-884-4811; or Mike Porter of Porter LeVay & Rose, 212-564-4700, for Kasler/
 (KAS)


CO: Kasler Corp.; California Department of Transportation ST: California IN: CST SU:

KJ-LS -- LA032 -- 9306 01/26/93 17:16 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 26, 1993
Words:260
Previous Article:TOMAHAWK CRUISE MISSILE UNVEILED AT NAVY MUSEUM'S OPERATION DESERT STORM EXHIBITION IN WASHINGTON, D.C.
Next Article:CLOSED-END FUNDS MANAGED BY PIPER CAPITAL MANAGEMENT DECLARE MONTHLY DIVIDENDS
Topics:


Related Articles
KASLER CORP. REPORTS RECORD REVENUES AND GAINS IN EARNINGS FOR THE FOURTH QUARTER AND YEAR-END RESULTS;
R.E. 'JEFF' KASLER, FOUNDER/CHAIRMAN KASLER CORP., DIES AT AGE 66 (Obituary)
KASLER CORP. ANNOUNCES HIGHER THIRD QUARTER NET EARNINGS
KASLER CORP LOW BIDDER ON THE POMONA/71 FREEWAY INTERCHANGE TOTALING $51,444,444
KASLER CORP. MAKES ANNOUNCEMENT ON THE $51.4 MILLION POMONA INTERCHANGE PROJECT
KASLER CORP. ANNOUNCES LOW BID OF $9.8 MILLION ON THE HEMET CANAL PROJECT
KASLER CORP. ANNOUNCES LOW BID OF $30.8 MILLION ON THE HARBOR FREEWAY 92ND STREET TO GAGE AVENUE PROJECT
KASLER CORP. SCORES ANOTHER LOW BID OF $22.6 MILLION FOR A PROJECT AT THE DENVER INTERNATIONAL AIRPORT
KASLER CORP. SIGNS LETTER OF INTENT TO MERGE WITH WASHINGTON CONTRACTORS GROUP

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters