LAYNE CHRISTENSEN ANNOUNCES NEW CONTRACTS VALUED AT APPROXIMATELY $110 MILLION
March 30 2015 - 8:00AM
Layne Christensen Company (Nasdaq:LAYN)
("Layne" or the "Company") today announced a
number of significant new contracts signed within the last 90 days
with an aggregate value of approximately $110 million. These
contracts were awarded to Layne's Geoconstruction, Inliner, Heavy
Civil, Water Resources, and Mineral Services divisions. The
majority of these projects are expected to be completed during the
current fiscal year.
These projects include: Cured-in-Place Pipe (CIPP) renewal for
municipal sewer systems; water and wastewater treatment and
collection; mineral drilling services for copper and iron ore;
design-build contracts for construction of a power plant water
supply and treatment system, and the construction of a new
low-pressure sewer system; and soil stabilization and excavation
services associated with increasing the reliability and capacity of
a community sewer system.
Michael J. Caliel, President and Chief Executive Officer of
Layne, commented, "These new awards reflect the diversity of our
services portfolio, the success of our ongoing business development
efforts, and the continued strategic shift toward design-build
opportunities in Heavy Civil. Layne's experience, expertise,
and tailored solutions are trusted resources for corporate and
government clients working to address a multitude of water
management issues."
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. Our actual results and performance may
materially and adversely differ from those contemplated by the
forward-looking statements in this press release for many reasons,
many of which are beyond our control, including, but not limited
to, assumptions regarding the markets in which we operate. In
addition, our business in general is subject to certain risks,
uncertainties and assumptions, including, but not limited to, the
following: 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 to be incorrect, actual results may vary
materially and adversely from those anticipated, estimated or
projected. Please read the risk factors described in detail
in Exhibit 99.2 to the Company's Current Report on Form 8-K as
filed with the U.S. Securities and Exchange Commission on October
29, 2014 for additional information regarding these risks. These
forward-looking statements are made as of the date of this press
release, and except as may be required by law, 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
Michael J. Caliel
President & CEO
281-475-2690
michael.caliel@layne.com
Andy Atchison
Chief Financial Officer
281-475-2670
andy.atchison@layne.com
The Equity Group Inc.
Devin Sullivan
Senior Vice President
212-836-9608
dsullivan@equityny.com
Kalle Ahl
Senior Associate
212-836-9614
kahl@equityny.com
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