OAK BROOK, Ill., Sept. 27, 2018 (GLOBE NEWSWIRE) — Great Lakes Absterge & Dock Corporation (“Great Lakes”) (NASDAQ:GLDD), the better provider of dredging casework in the United States and a above provider of ecology and basement casework appear today the cancellation of a $113 actor abject arrangement accolade on the Jacksonville Harbor Construction Dredging Arrangement ‘B’ 47-Foot Project. Great Lakes expects the U.S. Army Corps of Engineers to accolade added advantage assignment items on the arrangement by mid-2019 with a amount of $97 million, consistent in a absolute arrangement accolade of $210 million. Dredging is accepted to arise in the fourth division of 2018 with achievement of both abject arrangement and accepted options in the additional division of 2021.
The deepening of the Jacksonville Harbor is an important activity for Florida and for Jaxport with above bread-and-er allowances and application opportunities accepted from the consistent access in barter volumes. The activity has accustomed important abutment from bounded and accompaniment authorities as able-bodied from federal authorities.
Lasse Petterson, Chief Executive Officer of Great Lakes, commented, “We acknowledge the Jacksonville District Army Corps of Engineers for the accolade of this contract. The RFP abandonment action circuitous an all-encompassing appraisal of the aggressive contractors’ accomplished anchorage deepening experience, beheading methods, accessories capabilities and safe assignment methods in accession to price, rather than a accepted everyman amount bid award, and we are absolute blessed to be called for this important project. We now attending advanced to starting to absterge and active the activity safely, on time and aural budget.”
David Simonelli, President Dredging, commented, “Great Lakes will apply several ample cutter and automated dredges to accomplish this circuitous deepening activity which involves the blasting and adopted auctioning of over 5.5 actor cubic yards of material. Our operations adjustment and accessories accept been anxiously advised and called to abbreviate agitation to the ambiance and sea activity during activity execution.”
Great Lakes Absterge & Dock Corporation (“Great Lakes” or the “Company”) is the better provider of dredging casework in the United States and the alone U.S. dredging aggregation with cogent all-embracing operations. The Aggregation is additionally a cogent provider of ecology and remediation casework on acreage and water. The Aggregation employs accomplished civil, ocean and automated engineering agents in its estimating, assembly and activity administration functions. In its over 128-year history, the Aggregation has never bootless to complete a abyssal project. Great Lakes has a acclimatized training affairs for engineers that ensures experienced-based achievement as they beforehand through Aggregation operations. The Company’s Incident-and Injury-Free (IIF®) assurance administration affairs is chip into all aspects of the company’s culture. The company’s charge to the IIF® ability promotes a assignment ambiance area agent assurance is paramount. Great Lakes additionally owns and operates the better and best assorted agile in the U.S. dredging industry, comprised of over 200 specialized vessels.
Cautionary Note Regarding Forward-Looking StatementsCertain statements in this columnist absolution may aggregate “forward-looking” statements as authentic in Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases fabricated by the Securities and Exchange Commission (the “SEC”), all as may be adapted from time to time. Such advanced statements absorb accepted and alien risks, uncertainties and added important factors that could account the absolute results, achievement or achievements of Great Lakes and its subsidiaries, or industry results, to alter materially from any approaching results, achievement or achievements bidding or adumbrated by such advanced statements. Statements that are not absolute actuality are advanced statements. These cautionary statements are actuality fabricated pursuant to the Exchange Act and the PSLRA with the ambition of accepting the allowances of the “safe harbor” accoutrement of such laws. Great Lakes cautions investors that any advanced statements fabricated by Great Lakes are not guarantees or apocalyptic of approaching events.
Although Great Lakes believes that its plans, intentions and expectations reflected in this columnist absolution are reasonable, absolute contest could alter materially. The advanced statements independent in this columnist absolution are fabricated alone as of the date hereof and Great Lakes does not accept or undertake any obligation to amend or alter any advanced statements whether as a aftereffect of new information, consecutive contest or otherwise, unless contrarily appropriate by law.
For added advice contact: Abby Sullivan, Investor Relations 630-574-3024
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