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 receipt of an award of a $16.4 million contract for the deepening of the anchorage basin portion of the existing navigation channel on the Cape Fear River in North Carolina. This project was awarded to GLDD by the Army Corps of Engineers Wilmington District and involves the excavation of sand, gravel and rock seabed material. Work is expected to begin before the end of the year.
This project is a part of the Water Resources Development Act (WRDA) 1996, more specifically, Wilmington Harbor, NC - 96, which was passed to deepen, widen and improve over 25 miles of channel into Wilmington Harbor. Great Lakes has successfully completed five of the previous seven major projects awarded under the Wilmington Harbor, NC - 96 Act. This will be the sixth project to be executed and completed by Great Lakes.
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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