OAK BROOK, Ill.--(BUSINESS WIRE)--Great Lakes Dredge & Dock Corporation (“Great Lakes”) (NASDAQ:GLDD), the largest provider of dredging services in the United States and a major provider of environmental and remediation services, is celebrating 125 years of successfully providing dredging and marine infrastructure services. In honor of the occasion, GLDD team members this morning will visit the Nasdaq MarketSite in Times Square. Jonathan Berger, Chief Executive Officer, will ring the Opening Bell.
Founded in 1890 as Lydon and Drews Partnership, the Company completed its first project in Chicago, Illinois. Rapid regional growth prompted the founders to rename the Company as Great Lakes Dredge & Dock Company in 1905. Over the course of its 125-year history, the Company has grown to become the largest provider of dredging services in the United States, serving the East, West and Gulf Coasts, and is the only U.S. dredging company with significant international operations. Great Lakes’ fleet of hopper dredges is performing much of the Superstorm Sandy coastal reconstruction work along the New Jersey shore while its cutter and mechanical dredges deepen many of the nation’s shipping ports, such as New York’s Kill van Kull, PortMiami and the Savannah Entrance Channel. Internationally Great Lakes’ dredges are undertaking the widening and deepening of the Suez Canal. The state-of-the art articulated tug & barge (ATB) trailing suction hopper dredge that is currently under construction will be the largest and most productive hopper dredge in the United States, enabling the Company to continue its leadership in the dredging industry as the low cost provider.
Building upon its dredging legacy, Great Lakes in recent years has expanded into the environmental and remediation market. Through a series of acquisitions and organic growth, the Company has built a substantial environmental and geotechnical contractors in the United States, with capabilities on both land and water. This complementary market segment is expected to be a key engine of the Company’s growth going forward.
Reflecting on Great Lakes’ 125th anniversary, Chief Executive Officer Jonathan Berger remarked, “I am proud that our Company is celebrating 125 years of engineering and execution excellence and am pleased to be ringing the Opening Bell at Nasdaq to highlight this epic milestone.”
Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) 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 a significant provider of environmental and remediation services on land and water. The company employs civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its 125-year history, the Company has never failed to complete a marine project. Great Lakes has a disciplined training program for engineers that 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. dredging industry, comprised of over 200 specialized vessels.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking" statements as defined in Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission (the "SEC"), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words "plan," "believe," "expect," "anticipate," "intend," "estimate," "project," "may," "would," "could," "should," "seeks," or "scheduled to," or other similar words, or the negative of these terms or other variations of these terms or comparable language, or by discussion of strategy or intentions. These cautionary statements are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Great Lakes, include, but are not limited to, risks and uncertainties that are described in Item 1A. "Risk Factors" of Great Lakes’ Annual Report on Form 10-K for the year ended December 31, 2014, and in other securities filings by Great Lakes with the SEC.
Although Great Lakes believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements. Great Lakes' future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.