OAK BROOK, Ill., Nov. 14, 2016 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes”) (GLDD), the largest provider of dredging services in the United States and a major provider of remediation and geotechnical services, announced today the completion of the sale of assets associated with the service lines of the Terra Contracting Services, LLC business for $6.1 million in cash.
Chief Executive Officer Jonathan Berger commented, “This sale marks an important step in executing the Company’s strategy of focusing on the Environmental & Infrastructure segment’s core strengths and divesting of non-strategic services. I am pleased that we have successfully completed this transaction, and I am optimistic that we are well-positioned for the future success of this segment. We extend our best wishes to the new owner and all those related to the new business.”
WHO WE ARE
Great Lakes Environmental & Infrastructure (Great Lakes E&I) is one of the largest environmental contractors in the U.S. offering geotechnical and remediation services across a national footprint. We are a premier environmental and geotechnical contracting company that provides exceptional service to clients throughout the United States. We are a subsidiary of Great Lakes Dredge & Dock Corporation (NASDAQ: GLDD), the largest dredging contractor in the United States and the only one with an international presence. Under the GLDD umbrella, Great Lakes E&I has been able to expand its resources and leverage GLDD’s expertise of managing sediment on water that it has amassed over its 125 year history.