inofiquxi.wordpress.com
In a release Mission Woods-based Layne (Nasdaq: LAYN) said that based in Jacksonville, Fla., expands the geographic coverageof Layne’zs water infrastructure business. Layne will consolidate Meadorswith , Layne’s heavy/civill construction unit. Meadors will bring more than $25 million a year in additional revenue tothe unit. Layne said that it paid for Meadors with current cash balances and net of cash and that Layns remainsdebt free.
“This acquisition further solidifiez our efforts in the Florida and othert Southeastwater markets,” Reynolds President Jeff Reynolds said in the “The ‘bolt-on’ acquisition strategy we have used to expanf the company’s footprint in water infrastructure continues to pay Our Water Infrastructure Division backlog prior to this acquisition was approximatelyh $50 million higher than a year ago.’’ Layn e Christensen provides products and services for the water, mineral and energy markets. It ranks No. 17 on the Kansas City BusinesswJournal ’s list of area public companies.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment