Great Lakes Takes Delivery of Ellis Island, Largest Hopper Dredge in United States Market
November 20 2017 - 9:00AM
Great Lakes Dredge & Dock Corporation ("Great Lakes")
(NASDAQ:GLDD), the largest provider of dredging services
in the United States and a major provider of
environmental and infrastructure services announced that it has
taken delivery of the new build ATB hopper dredge Ellis Island and
tug Douglas B. Mackie after successful completion of United
States Coast Guard and American Bureau of Shipping regulatory sea
trials.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/ddc30b71-9247-4e8e-afe4-8f10be2246d7
David Simonelli, President, Dredging Division
commented “We are excited to take delivery of this advanced vessel
which improves the competitiveness of our hopper group and
represents a substantial reinvestment in our fleet. The Ellis
Island significantly increases the United States commercial Jones
Act hopper fleet capacity as the largest hopper dredge in the
United States market, with a carrying capacity of 15,000 cubic
yards.”
Lasse Petterson, Chief Executive Officer
commented “This addition to our fleet represents a great milestone
in Great Lakes’ history. The Ellis Island is capable of meeting the
current and future U.S. Army Corps of Engineers’, State and U.S.
Ports’ deepening, coastal protection, coastal restoration and
maintenance dredging infrastructure demands. The Ellis Island’s
haul capacity and dredging systems will yield more efficient and
faster project execution."
Great Lakes will perform U.S. Coast Guard
emergency crew drills today and expects to receive the Certificates
of Inspection thereafter. Upon receipt of the Certificates of
Inspection, the Ellis Island and tug Douglas B. Mackie will depart
Panama City, Florida for the Mississippi Coastal Improvement
Program project and commence operations on this important long haul
coastal restoration project.
The Company
Great Lakes Dredge & Dock Corporation
(“Great Lakes” or the “Company”) 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 a significant provider of environmental and remediation
services on land and water. The Company employs civil, ocean
and mechanical engineering staff in its estimating, production and
project management functions. In its over 127-year history,
the Company has never failed 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. dredging industry, comprised of over 200
specialized vessels.
Cautionary Note Regarding
Forward-Looking Statements Certain statements in this
press release may constitute "forward-looking" statements as
defined in Section 21E of the Securities Exchange Act of 1934 (the
"Exchange Act"), the Private Securities Litigation Reform Act of
1995 (the "PSLRA") or in releases made by the Securities and
Exchange Commission (the "SEC"), all as may be amended from time to
time. Such forward-looking statements involve known and unknown
risks, uncertainties and other important factors that could cause
the actual results, performance or achievements of Great Lakes and
its subsidiaries, or industry results, to differ materially from
any future results, performance or achievements expressed or
implied by such forward-looking statements. Statements that are not
historical fact are forward-looking statements. These cautionary
statements are being made pursuant to the Exchange Act and the
PSLRA with the intention of obtaining the benefits of the "safe
harbor" provisions of such laws. Great Lakes cautions investors
that any forward-looking statements made by Great Lakes are not
guarantees or indicative of future events.
Although Great Lakes believes that its plans,
intentions and expectations reflected in this press release are
reasonable, actual events could differ materially. The
forward-looking statements contained in this press release are made
only as of the date hereof and Great Lakes does not have or
undertake any obligation to update or revise any forward-looking
statements whether as a result of new information, subsequent
events or otherwise, unless otherwise required by law.
GLDD CORP
For further information contact: Abby
Sullivan, Investor Relations
630-574-3024
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