This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Layne Christensen's Geoconstruction Division Awarded New Contracts Totaling Approximately $50 Million

THE WOODLANDS, Texas, March 25, 2014 (GLOBE NEWSWIRE) -- Layne Christensen Company (Nasdaq:LAYN) ("Layne" or the "Company") announced today that Bencor Corporation of America, a wholly-owned subsidiary of Layne which operates as part of the Geoconstruction division, has received three separate contracts with an aggregate value of approximately $50 million.

The respective contracts are as follows:

Kaneohe-Kailua Sewer Tunnel Project, City and County of Honolulu, Hawaii

Layne will construct ground treatment by utilizing the jet grouting technique, and construct two deep shafts utilizing the structural diaphragm (slurry) walls technique. This project combines the resources and expertise of Layne's small diameter business line, part of the Geoconstruction division, and Bencor's slurry wall expertise. Work on the project is scheduled to commence in March 2014 and should be completed by December 2014.

Northgate Link Extension, Sound Transit Seattle Tunnel and Subway Station in Seattle, WA

Layne will build structural diaphragm (slurry) walls in connection with the construction of a subway station located in the Roosevelt neighborhood of Seattle, part of the $2.1 billion Northgate Link Extension that will lengthen the subway line by 4.3 miles. Work on the project has already commenced and should be completed by July 2014.

Blue Plains Advanced Waste Water Treatment Tunnel Project in Washington, D.C

For this project, Layne will construct six deep circular shafts utilizing structural diaphragm (slurry) walls that are designed to act as tunnel boring machine (TBM) launching shafts. Work on the project is scheduled to commence in March 2014 and should be completed by January.

Rene Robichaud, President and CEO of Layne, said, "Layne's Geoconstruction division is well-suited to handle the size, scope, and complex nature of these projects, each of which will have a profound and positive impact in their respective communities."

Mr. Robichaud concluded, "In the last five months, Layne's Geoconstruction division has announced new contracts with an aggregate value of approximately $150 million. We remain confident about the positive outlook and improving performance for this business in 2014."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs