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
Terra Contracting Services, LLC is a premier environmental contracting company that provides exceptional environmental services to clients throughout the United States. We have earned a reputation for excellence in handling a wide range of projects that include soil, water and sediment remediation; 24-hour environmental response; industrial cleaning; municipal services; abatement services; hazardous waste removal; oil and gas field services; pipeline; and other related services. Terra became 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, in December 2012. Under the GLDD umbrella, Terra 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.
WHAT WE DO
Terra provides environmental contracting solutions for sediment, soil, and groundwater remediation; landfill management; hazardous waste removal; and related services.
We also offer environmental response services to manage problems for virtually any material or waste 24 hours a day, 365 days a year.