THE WOODLANDS, Texas,
Aug. 4, 2015 /PRNewswire/
-- Layne Christensen Company (NASDAQ: LAYN) ("Layne" or the
"Company") today announced a number of significant new
contracts signed during the Company's fiscal second quarter ended
July 31, 2015 with an aggregate value
of approximately $90
million. These contracts, which do not represent
all bookings during the quarter, were awarded to Layne's Water
Resources, Inliner, Heavy Civil and Mineral Services
divisions. The majority of these projects are expected to be
completed within the next twelve months and include a water main
extension for a Georgia utility
authority, a Cured-in-Place pipe renewal for a municipal sewer
system, a design-build contract for construction of a power plant
water supply, a water treatment solution for a food and beverage
customer, and a water supply contract for a mining
customer.
Michael J. Caliel, President and
Chief Executive Officer of Layne, commented, "These contracts
reflect the success of our ongoing business development efforts and
the strength of our water management offerings. We also
continue to sign new contracts for work with agricultural customers
in California's Central
Valley. Layne's experience, expertise, and tailored solutions
are trusted resources for corporate and municipal clients working
to address a multitude of water management issues.
"Separately, the previously-announced sale of our
Geoconstruction business segment to a subsidiary of Keller
Foundations LLC is progressing and we expect to close the
transaction during our fiscal third quarter."
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 and our
ability to execute on our business strategy. 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; foreign currency fluctuations that may affect
worldwide results of operations; and the ability to timely obtain
all of the consents and approvals and satisfy all of the other
closing conditions to the sale of the Geoconstruction business
segment. 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. 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.
Contacts
Layne Christensen Company
Michael J. Caliel
President & CEO
281-475-2690
michael.caliel@layne.com
Michael Anderson
Chief Financial Officer
281-475-2670
michael.anderson@layne.com
Dennard Lascar Associates
Ken Dennard/Jack Lascar
713-529-6600
ken@dennardlascar.com
jlascar@dennardlascar.com
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SOURCE Layne Christensen Company