Layne Christensen Company (Nasdaq:LAYN) ("Layne" or the"Company")announced today that its Geoconstruction division received a contract from Tutor Perini Corporation (NYSE:TPC) to build the foundation for three underground subway stations for the Central Subway Project in San Francisco, California.
The two-year contract, which is scheduled to commence in February / March 2014, has an estimated value to Layne of approximately $57.0 million.
The Central Subway Project is the second phase of the San Francisco Municipal Transportation Agency's ("SFMTA") Third Street Light Rail Transit Project. Phase 2, the Central Subway Project, will construct a modern, efficient light-rail line that will further improve public transportation in San Francisco. This new 1.7-mile extension of SFMTA's T Third Line will connect the 4th Street Caltrain Station to Chinatown, providing direct connections to major retail, sporting and cultural venues while efficiently transporting people to jobs, educational opportunities and other amenities throughout the city.
Layne will provide soil stabilization services to assist in the construction of the Chinatown Station, Union Square/Market Street Station, and the Yerba Buena/Moscone Station.
Rene Robichaud, President and CEO of Layne, said, "the Geoconstruction division has specialized in deep foundation construction for over 40 years, successfully completing complex projects around the world. We are honored to have been selected by Tutor Perini to participate in a project that will contribute greatly to San Francisco's economic development, and elevate the city's profile as a global hub of commerce, education, and entertainment."
Layne Christensen Company
Layne is a global water management, construction and drilling company, providing responsible solutions to the world of essential natural resources — water, mineral and energy. We offer innovative, sustainable products and services with an enduring commitment to safety, excellence, and integrity.
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