MISSION WOODS, Kan., Sept. 6, 2012 (GLOBE NEWSWIRE) -- Layne Christensen Company (Nasdaq:LAYN) ("Layne" or the "Company") announced today that Islamorada, Village of Islands, Florida ("the Village") has approved a design-build-operate contract with Reynolds Water Islamorada, LLC ("Reynolds Water") for a centralized wastewater system. The system will satisfy the Village's requirement to implement a mandate from the Florida Department of Environmental Protection to eliminate all residential septic systems and private wastewater treatment plants in the Florida Keys by December 31, 2015.
Layne's Heavy Civil Division will perform the work on this project.
Engineering for the $90.9 million design-build project is expected to commence in the next month. Construction is expected to begin early next year and last for approximately 30 months. The project will provide a combination of vacuum and low pressure sewers to collect a projected 1.4 million gallons per day of wastewater from the four islands of the Village. It also includes a transmission system to transport the flow to Key Largo Wastewater Treatment District's regional treatment facility, where it will be treated by the District under an intergovernmental agreement with the Village.The agreement with Islamorada culminates a more than 12-month selection process which started with eight national and international competitors. Rene Robichaud, Chief Executive Officer of Layne, stated, "We appreciate the hard work and determination of the Mayor and Council, the selection committee, the Village employees, and consultants in bringing this landmark project to fruition. We also appreciate the efforts of our Reynolds Water team, who have dedicated many hours to deliver this opportunity to Layne." He concluded, "This is another example of how the principles of our OneLayne operating philosophy are allowing us to pursue solutions-based project opportunities across all divisions and geographies." Layne Christensen Company Layne is a global solutions provider to the world of essential natural resources – water, mineral and energy. We offer innovative, sustainable products and services with an enduring commitment to safety, excellence, and integrity.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV