THE WOODLANDS, Texas, March 30, 2015 (GLOBE NEWSWIRE) -- 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.