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DOTHAN, Ala., June 17, 2019 (GLOBE NEWSWIRE) -- Construction Partners, Inc. (NASDAQ: ROAD) (the “Company”), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today announced that the Company has been selected for inclusion in the Russell 3000® index. This addition will be effective after the market closes on June 28, 2019.
The Russell 3000® index, which includes the large cap Russell 1000® index and small cap Russell 2000® index, is comprised of the 3,000 largest U.S. companies by market cap and is reevaluated annually each June.
Charles E. Owens, the Company’s President and Chief Executive Officer, stated, “We are pleased to be added to the Russell 3000 Index. We believe that our inclusion in this well-followed index will provide greater visibility for Construction Partners and an opportunity to increase our exposure to investors.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 31 hot mix asphalt plants, nine aggregate facilities and one liquid asphalt terminal. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The majority of the Company’s public projects are maintenance-related. Private sector projects include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit www.constructionpartners.net.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For more than 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.
Forward Looking Statements
This press release includes “forward-looking statements” about the Company, including statements regarding the Company’s anticipated inclusion in the Russell 3000® Index and timing of such inclusion, that reflect the Company’s current views and expectations and information currently available. This information is, where applicable, based on estimates, assumptions and analysis that the Company believes, as of the date hereof, provide a reasonable basis for the information contained herein. Forward-looking statements can generally be identified by the use of forward-looking words such as “will”, “expect”, “anticipate”, “believe”, or other similar words, and involve known and unknown risks, uncertainties and other factors, many of which are outside the control of the Company. The actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks, uncertainties and other factors, including those described in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and in other documents that the Company files with the Securities and Exchange Commission. Except as required by applicable law, the Company expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Rick Black / Ken Dennard
Dennard Lascar Investor Relations