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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Indonesia is planning to build what will be the World’s longest suspension bridge to link up its two main islands of Java and Sumatra. The total length will over 30-km with a (max?) height of 70-m so ships can pass underneath. The catch is that the bridge will be located on the Pacific Ring of Fire, the boundary between the Asian and Australian tectonic plates and one of the most seismically and volcanically active areas in the world. There have been several recent earthquakes greater than magnitude 7, not to mention the earthquake that caused the 2004 tsunami. The bridge will be built to withstand a magnitude 9 earthquake. Oh, and in case the seismic concerns weren’t great enough, the bridge will pass within 50-km of the volcano Krakatoa. The estimated cost of the bridge is $12 billion ($AU?). Credit to Geology.com for the story.