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.
The Layne Christensen Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3466Forward-Looking Statements This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. Such statements may include, but are not limited to, statements of plans and objectives, statements of future economic performance and statements of assumptions underlying such statements, and statements of management's intentions, hopes, beliefs, expectations or predictions of the future. Forward-looking statements can often be identified by the use of forward-looking terminology, such as "should," "intended," "continue," "believe," "may," "hope," "anticipate," "goal," "forecast," "plan," "estimate" and similar words or phrases. Such statements are based on current expectations and are subject to certain risks, uncertainties and assumptions, including but not limited to: the outcome of the ongoing internal investigation into, among other things, the legality, under the FCPA and local laws, of certain payments to agents and other third parties interacting with government officials in certain countries in Africa relating to the payment of taxes and the importing of equipment (including any government enforcement action which could arise out of the matters under review or that the matters under review may have resulted in a higher dollar amount of payments or may have a greater financial or business impact than management currently anticipates), prevailing prices for various commodities, unanticipated slowdowns in the Company's major markets, the availability of credit, the risks and uncertainties normally incident to the construction industry and exploration for and development and production of oil and gas, the impact of competition, the effectiveness of operational changes expected to increase efficiency and productivity, worldwide economic and political conditions and foreign currency fluctuations that may affect worldwide results of operations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially and adversely from those anticipated, estimated or projected. These forward-looking statements are made as of the date of this filing, and the Company assumes no obligation to update such forward-looking statements or to update the reasons why actual results could differ materially from those anticipated in such forward-looking statements.
CONTACT: Layne Christensen Company Jerry W. Fanska Sr. Vice President Finance 913-677-6858 www.layne.com The Equity Group Inc. Devin Sullivan Sr. Vice President 212-836-9608 firstname.lastname@example.org Thomas Mei Account Executive 212-836-9614 email@example.com