Layne Christensen's Water Resources Division Awarded $6.9 Million Contract
April 03 2014 - 9:00AM
Layne Christensen Company (Nasdaq:LAYN)
("Layne" or the "Company")
announced today that its Water Resources Division received a
contract from the Broward County Department of Public Works in Fort
Myers, Florida to drill two injection wells and one dual-zone
aquifer monitoring well for the North Regional Wastewater Treatment
Plant.
Work on the project is scheduled to commence in April 2014 and
should be completed by early 2015. The contract has an estimated
value to Layne of approximately $6.9 million.
Layne will provide services that include site preparation,
drilling, geophysical logging, cementing of casing, core and water
sampling and analysis, temporary electrical service, landscape
relocation, and post-project site restoration. Much of the
project work will be completed using equipment owned by Layne.
Rene Robichaud, President and CEO of Layne, said, "We are
honored to have been selected for a project that will help protect
this most vital of natural resources for the people of Broward
County. For over 130 years, throughout the United States and
around the world, Layne provides sustainable,
environmentally-sensitive solutions for water infrastructure
systems."
Layne Christensen Company
Layne is a global water management, construction and drilling
company, providing responsible solutions 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.
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
Jim Easter
Chief Financial Officer
281-475-2694
jim.easter@layne.com
Jenny Caulk
Director of Communications
281-475-2621
jenny.caulk@layne.com
The Equity Group Inc.
Devin Sullivan
Sr. Vice President
212-836-9608
dsullivan@equityny.com
Thomas Mei
Associate
212-836-9614
tmei@equityny.com
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