Great Lakes Announces The Award Of The Port Of Baltimore Maintenance Project For $24.2 Million

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), the largest provider of dredging services in the United States and a major provider of commercial and industrial demolition and remediation services, today announced the award of a $24.2 million contract for maintenance dredging in the Port of Baltimore. This work was awarded by the Army Corps of Engineers’ Baltimore District. Work will be done with two clamshell dredges commencing this month and expected to be completed by year end.

Baltimore Harbor is an important part of the U.S. maritime transportation system which is in total the most efficient in the world. Maintaining the navigable waterways in the United States, specifically the Baltimore Harbor shipping channel, to their authorized dimensions is critical to the regional and national economy. Federal investment in U.S. maritime infrastructure always offers an impressive return on investment in terms of exports, imports and U.S. jobs.

The Company

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations. The Company is also one of the largest U.S. providers of commercial and industrial demolition services primarily in the Northeast. The Company owns a 50% interest in a marine sand mining operation in New Jersey that supplies sand and aggregate for road and building construction and a 50% interest in an environmental service operation with the ability to remediate soil and dredged sediment treatment. Great Lakes employs over 150 degreed engineers, most specializing in civil and mechanical engineering, which contributes to its 122-year history of never failing to complete a marine project. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. Great Lakes also owns and operates the largest and most diverse fleet in the U.S. industry, comprised of over 200 specialized vessels.

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