USA: Great Lakes Announces Environmental Services Joint Venture with Environmental Specialist

Great Lakes Dredge & Dock Corporation, the largest provider of dredging services in the United States and a major provider of commercial and industrial demolition services, today announced a new joint venture with Environmental Remediation Holding Inc. (ERH). ERH is a subsidiary of DEC, a leading Belgium based, international environmental specialist/contractor and holds DEC process licenses for soil remediation and dredged sediment treatment. The joint venture will provide water and land based environmental services in the area of clean up and remediation of sediments, soil and groundwater for both marine and land based projects.

DEC has been engaged in environmental services for over 20 years providing solutions, through patented technologies, to address global environmental problems including, recycling techniques, landfill techniques, environmental dredging and the redevelopment of brownfield sites. The joint venture was established to capitalize on each other’s expertise for projects in the United States offering optimally engineered global solutions for environmental cleanup needs. As equal partners in the venture, each party has agreed to commit equally to startup and operating capital requirements.

 Commentary

Chief Executive Officer Jonathan Berger stated, “The joint venture formed as a result of this important association will be positioned as the most capable environmental services contractor in the U.S. market. We anticipate bidding projects ranging from smaller dredge sediment and soil treatment remediation up to projects that could exceed $100 million in value such as environmental work on the Hudson and Fox Rivers.

 “This is a great opportunity for Great Lakes to expand upon its dredging capabilities by offering services in new complimentary markets while increasing utilization of our dredging and demolition fleet and expertise. The joint venture will provide new opportunities for Great Lakes in the area of sediment treatment, soil treatment, groundwater treatment and special waste treatment in the water and on land. It will enable Great Lakes to expand the services it offers in dredging, demolition and brownfield redevelopment as well as enter into new markets.

 “Great Lakes is pleased to enter into this joint venture with ERH, expanding its successful relationship with this prominent Belgian contractor. This new venture will serve as environmental contractors, focusing on complex sediment, soil and groundwater remediation projects. Our combined talents will enable us to deliver a seamless service derived from our internal multidisciplinary experts. Our team will work collaboratively with our clients and their partners, including government and state regulatory agencies, design teams and external parties.”

 The Company

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations. The Company is also one of the largest U.S. providers of commercial and industrial demolition services primarily in the Northeast. Additionally, the Company owns a 50% interest in a marine sand mining operation in New Jersey which supplies sand and aggregate used for road and building construction.

Great Lakes employs over 150 degreed engineers, most specializing in civil and mechanical engineering, which contributes to its 121-year history of never failing to complete a marine project. Great Lakes has a disciplined training program for engineers which ensures experienced-based performance as they advance through Company operations. Great Lakes also owns and operates the largest and most diverse fleet in the U.S. industry, comprised of over 200 specialized dredging and support vessels.

[mappress]

Source: Great Lakes Dredge & Dock Corporation, July 20, 2011;

Related news

List of related news articles