MISSION WOODS, Kan., Sep 20, 2007 (PrimeNewswire via COMTEX News Network) — Layne Christensen Company (Nasdaq:LAYN) today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed underwritten public offering of shares of its common stock with a proposed maximum aggregate offering amount of $172.5 million (including shares that may be issued at the underwriters’ option to cover over-allotments, if any). Layne intends to use the net proceeds from the proposed offering to reduce the outstanding balance on its credit facility and for general corporate purposes, as well as funding for possible acquisitions.
[Editor] Layne Christensen is the parent company of Layne GeoConstruction – a specialty foundation construction company offering services such as jet grouting, drilled micropiles, vibratory ground improvement, and construction drilling, grouting and anchor technologies. They are also the parent company of COLOG Borehole Geophysics, which does nondestructive testing, borehole geophysics and downhole camera logging of boreholes. Click through for the rest of the press release. [/Editor]