Last $18.29 USD
Change Today -0.19 / -1.03%
Volume 52.0K
LAYN On Other Exchanges
As of 8:10 PM 04/16/14 All times are local (Market data is delayed by at least 15 minutes).

layne christensen company (LAYN) Snapshot

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05/20/13 - $22.64
52 Week Low
12/9/13 - $13.88
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layne christensen company (LAYN) Details

Layne Christensen Company provides water management, construction, and drilling services in North America and internationally. Its Water Infrastructure division offers water-related products and services, including hydrologic design and construction; source of supply exploration; well and intake construction; and well and pump rehabilitation services. This division also offers water treatment equipment engineering services providing systems for the treatment of regulated and nuisance contaminants. The company’s Inliner division provides process, sanitary, and storm water rehabilitation solutions, as well as other rehabilitative methods, such as structural renewal for service lateral connections, slip lining, traditional excavation and replacement, U-Liner high-density polyethylene fold, and form and manhole renewal. Its Heavy Civil division offers design and construction of water and wastewater treatment plants and pipeline installation solutions; builds radial collector wells, surface water intakes, pumping stations, hard rock tunnels, and marine construction services; and designs and constructs biogas facilities. The company’s Geoconstruction division provides geotechnical foundation construction services; underground construction projects; foundation system services; and jet grouting, structural diaphragm and slurry cutoff walls, cement and chemical grouting, drilled piles, ground improvement, and earth retention system services. Its Mineral Exploration division conducts aboveground drilling activities comprising core drilling, reverse circulation, dual tube, hammer, and rotary air-blast methods; and exploratory and definition drilling services. The company serves government agencies, investor-owned utilities, industrial and mining companies, consulting engineering firms, heavy civil construction contractors, oil and gas companies, power companies, and agribusiness. Layne Christensen Company was founded in 1981 and is headquartered in The Woodlands, Texas.

4,600 Employees
Last Reported Date: 04/16/13
Founded in 1981

layne christensen company (LAYN) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $673.7K
President of Reynolds Inliner LLC
Total Annual Compensation: $257.2K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $383.5K
Senior Vice President of International Operat...
Total Annual Compensation: $364.2K
Compensation as of Fiscal Year 2013.

layne christensen company (LAYN) Key Developments

Layne Christensen Announces New $135 Million Credit Facility

Layne Christensen Company announced that it has signed a new five-year $135 million senior secured asset-backed revolving credit facility with PNC Bank National Association as Administrative agent, Co-collateral agent and Lender; Wells Fargo Bank N.A. as Co-collateral Agent and Lender and Jefferies Finance LLC as Lead Arranger, Book Running Manager, Syndication Agent and Lender. The ABL Facility will bear interest at a rate of LIBOR plus 2.75 - 3.25%, depending on average utilization, as determined quarterly. The ABL Facility has an accordion feature that could increase the borrowing capacity to up to $200 million. Layne will initially use funds available under the ABL Facility to cash collateralize approximately $31 million of outstanding letters of credit associated with its prior bank agreement until such letters of credit can be transitioned to the ABL Facility and from time to time for working capital and general corporate purposes. In connection with the closing of the ABL Facility, Layne terminated its prior $150 million credit facility.

Layne Christensen's Heavy Civil Division Announces $24 Million in New Contracts

Layne Christensen Company announced that its Heavy Civil division has received two separate water infrastructure contracts with an aggregate value of approximately $24 million. New Water Treatment Plant, City of Roswell, Georgia: Layne will construct a new, water treatment plant for the City of Roswell, Georgia, replacing an 80-year-old facility that could no longer efficiently or cost-effectively supply water for its citizens. The new water treatment plant is expected to expand the city's water capacity to 3 million gallons a day, and is also projected to save the City of Roswell approximately $11.6 million over a 20-year period by reducing outside water purchases, and lowering repair and refurbishment expenses. Additional benefits for the City of Roswell include the ability to maintain local control over a key portion of its water resources, securing the city's water future via the scalable treatment capacity provided by the new plant, and mitigating the risk of future rate increases by slowing operational expenditures, including repair and maintenance costs. Work on this 18-month project is expected to commence in May 2014. One Layne Water and Wastewater System Improvements, Skyview Utilities (City of Lakeland, Florida): Layne's Heavy Civil and Inliner divisions are collaborating on this multi-faceted project that will improve the water infrastructure of the Skyview Utilities system, an independent entity providing water and wastewater services for the Skyview community. Heavy Civil and Inliner will construct a new wastewater treatment system, consisting of a master pump station and force main to deliver wastewater to the City of Lakeland; replace water distribution facilities that have stretched beyond their useful life; and construct new distribution piping to provide reliable service to existing customers. The project is expected to eliminate unpermitted discharge and associated contamination into Florida waters, reduce the financial burden on property owners and citizens of the City of Lakeland, and provide a permanent water and wastewater solution for the people of Skyview. Work on this 18-month project is expected to commence in May 2014.

Layne Christensen's Water Resources Division Wins $6.9 Million Contract

Layne Christensen Company announced that its Water Resources Division received a contract from the Broward County Department of Public Works in Fort Myers, Florida to drill two injection wells and one dual-zone aquifer monitoring well for the North Regional Wastewater Treatment Plant. Work on the project is scheduled to commence in April 2014 and should be completed by early 2015. The contract has an estimated value to Layne of approximately $6.9 million. Layne will provide services that include site preparation, drilling, geophysical logging, cementing of casing, core and water sampling and analysis, temporary electrical service, landscape relocation, and post-project site restoration. Much of the project work will be completed using equipment owned by Layne.


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