MISSION WOODS, Kan., Nov. 17, 2010 (GLOBE NEWSWIRE) — Layne Christensen Company ("Layne") (Nasdaq:LAYN) today announced the acquisition of Bencor Corporation of America – Foundation Specialist ("Bencor"). Founded in 1969, Bencor is one of North America’s leading contractors in foundation and underground engineering. Bencor specializes in deep foundations for dams, levees, shafts and below ground structures and also excels in the design and building of earth support retention systems for basement excavation for high-rise structures, subway lines and stations and depressed highways. Bencor has performed work in the United States, Canada, South America, Europe and North Africa and has over 100 permanent employees headquartered in Dallas, Texas. The purchase price for the stock of Bencor was $32.1 million. Management projects first year revenues and earnings per share of approximately $50 million and $0.20-$0.25 per share, respectively, after purchase accounting adjustments.
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As 33 trapped miners waited more than 2,000-ft underground for their rescue, a whole team of Chilean government officials, mining engineers, equipment manufacturers and of course drillers came together get the job done. Jeff Hart, a driller from Denver, Colorado was one of the stars of the day. Hart was in Afghanistan drilling deep water wells when he got the call and hopped on a plane. He works for Kansas-based Layne Christensen, and along with 3 other Layne employees, he manned the Schramm T130 drill rig that was part of “Plan B” that eventually became the shaft from which the trapped miners were rescued.
On the drilling platform overseeing the drilling was James Stefanic of Layne, and crew members Matt Staffel, Doug Reeves and Jorge Herrera. The rig and I presume some of the support equipment was owned by Layne’s Latin America affiliate, Geotec Boyles Bros, SA. The drill bits were from Center Rock, Inc. of Berlin, Pennsylvania. The Center Rock CEO, Brandon Fisher, was on site throughout the operation as well.
Read on for more info, photos, video and links on the drilling, drillers and geology of the Chile Mine rescue.