World News: 21:05 GMT Wednesday 11th September 2019. [Great Lakes Dredge & Dock Corporation via Globe Newswire via SPi World News]
OAK BROOK, Ill., Sept. 11, 2019 (GLOBE NEWSWIRE) -- Great Lakes Dredge & Dock Corporation ("Great Lakes") (NASDAQ:GLDD), the largest provider of dredging services in the United States announced today the receipt of several major dredging awards totaling $141 million.
The awarded work includes:
The base scope for the Jacksonville Deepening Contract B was won in 2018 and the option work is a continuation of channel deepening an additional 2.5 miles upriver. Work is expected to begin in September with completion in late 2020.
The Baltimore Harbor project involves maintenance dredging of the sea-lanes into Baltimore and is expected to commence in the first quarter of 2020. Dredge material is to be pumped for beneficial use.
The Boston Harbor project is maintenance dredging of the inner harbor channels and is expected to commence in late September.
David Simonelli, President of Dredging commented, “We are pleased to announce these significant capital and maintenance dredging awards for our Company. We expect these projects to contribute positively to Great Lakes’ performance this year and in 2020 and contribute to the strengthening of the U.S. infrastructure.”
Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 129-year history, the Company has never failed to complete a marine project. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free (IIF®) safety management program is integrated into all aspects of the company’s culture. The company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount. Great Lakes also owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of over 200 specialized vessels.
Although Great Lakes believes that its plans, intentions and expectations reflected in this press release are reasonable, actual events could differ materially. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.
Globe Newswire: 21:05 GMT Wednesday 11th September 2019
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