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Press Releases

Layne Christensen announces $19 million geoconstruction contract

THE WOODLANDS, Texas, Sept. 18, 2013 (GLOBE NEWSWIRE) — Layne Christensen Company (Nasdaq:LAYN) ("Layne") today announced that its Geoconstruction Division received a contract to provide specialized foundation work in connection with the construction of Transbay Tower in San Francisco. 

The contract has an estimated value to Layne of approximately $19 million. Work on the project is expected to commence in October 2013 and last approximately 6 months.

[Editor] Read on for more info about the foundations for this new 61 story high-rise in downtown San Francisco. [/Editor] 

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Press Releases

Layne Christensen Company to Celebrate 130 Year Anniversary by Ringing The NASDAQ Stock Market Opening Bell

MISSION WOODS, Kan., Aug. 23, 2012 (GLOBE NEWSWIRE) — Layne Christensen Company (Nasdaq:LAYN) ("Layne" or the "Company") announced today that Chief Executive Officer Rene Robichaud will commemorate Layne’s 130th anniversary by ringing the Opening Bell […]


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Press Releases

Layne Christensen Company Acquires Bencor Corporation of America

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.

[Editor] Click through for the rest of the press release. [/Editor] […]

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Press Releases

Layne Christensen Drillers Reach Trapped Miners in Chile

MISSION WOODS, Kan., Oct. 10, 2010 (GLOBE NEWSWIRE) — “Plan B” worked. Winning the three-way race to reach the 33 miners trapped in Chile since Aug. 5, drillers from Kansas City-based Layne Christensen Co. broke through at 8 a.m. Saturday.

[Editor] Click through for the rest of the press release. [/Editor] […]

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Press Releases

Layne Christensen Company Acquires Interest in South American Geotechnical Companies

MISSION WOODS, Kan., Aug. 25, 2010 (GLOBE NEWSWIRE) — Layne Christensen Company (“Layne”) (Nasdaq:LAYN) today announced the acquisition of a 50% interest in Diberil Sociedad Anonima, a Uruguayan company and parent company to Costa Fortuna (Brazil and Uruguay). Costa Fortuna, with operations in Sao Paulo, Brazil and Montevideo, Uruguay, is one of the largest providers of specialty foundation and specialized marine geotechnical services in South America. Layne has mineral exploration operations already in Brazil and sees the expansion of its geotechnical construction business into this market as a very strategic opportunity. Costa Fortuna, with 250 employees, produced approximately $25 million in revenue and $4.5 million in earnings before interest, income taxes, depreciation and amortization for the year ended December 31, 2009. Layne’s investment for its 50% interest included the purchase of shares from individuals for $10.1 million and the purchase of shares directly from Diberil for $4.8 million resulting in, net of Layne’s interest in Diberil, an economic investment of $12.5 million. Subsequent to the acquisition, both shareholders contributed $1.25 million in cash for working capital. In addition, and as part of this transaction, Diberil purchased from Layne 100% of the stock of Layne GeoBrazil for $4.8 million. Layne will record activity from its investment in Diberil as equity in earnings of affiliates.

[Editor] Click through for the rest of the press release. [/Editor] […]