Layne Christensen Announces $80 Million Heavy Civil Construction Project
March 06 2013 - 5:30PM
Layne Christensen Company (Nasdaq:LAYN) ("Layne" or the "Company")
today announced that Layne Heavy Civil will design and construct a
wastewater collection and transmission project for the Cudjoe
Regional Wastewater System in Monroe County, Florida. The agreement
was signed with the Florida Keys Aqueduct Authority ("FKAA"), which
is acting as the Program Manager on behalf of the Monroe County
Commission, which is funding the project.
Engineering on this $80 million design-build project has
commenced and construction is scheduled to begin in July 2013 and
last for approximately two and one-half years.
The State of Florida mandated that all customers within Monroe
County be connected to an advanced wastewater treatment facility
before December 31, 2015. This project will help eliminate
untreated wastewater effluent from polluting the nearshore waters
of the Florida Keys.
The project – the single largest in terms of value and number of
customers served ever undertaken by Monroe County – consists of
wastewater service to the islands of Ramrod Key, Lower Sugarloaf
Key, Little Torch Key, and Big Pine Key. The collection system
includes approximately 500,000 linear feet of gravity sewer and
low-pressure grinder sewer, with 40 neighborhood lift stations that
serve approximately 4,500 customers. The transmission system
consists of four master pump stations and PVC and HDPE pipeline
laid along US Highway 1. Wastewater is being transferred to the
central Cudjoe Treatment Facility, currently under
construction.
Layne Heavy Civil was selected in a two-stage procurement
process over three other proposals by a joint committee made up of
County and FKAA officials. Layne Heavy Civil will implement the
project using a combination of its own forces as well as local and
regional small and minority businesses to meet FKAA participation
goals.
Rene Robichaud, Chief Executive Officer of Layne, stated, "We
are honored to have been selected to design and construct this
landmark project for the people of Monroe County. Our Heavy Civil
team continues to work very closely with Layne's executives across
all divisions to identify and secure solutions-based project
opportunities."
"Monroe County is excited to partner with Layne in our largest
and most complex sewer collection system project, and we look
forward to its successful completion," said Roman Gastesi, County
Administrator.
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=3466
Forward-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, 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
jerry.fanska@layne.com
Jenny Caulk
Corporate Communications Manager
913-677-6852
jenny.caulk@layne.com
The Equity Group Inc.
Devin Sullivan
Sr. Vice President
212-836-9608
dsullivan@equityny.com
Thomas Mei
Account Executive
212-836-9614
tmei@equityny.com
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