Business

Great Lakes completes Terra Contracting Services unit sale

Posted November 15, 2016 12:00 am

Globe Newswire

OAK BROOK - Great Lakes Dredge & Dock Corp. said it has completed the sale of assets associated with the service lines of the Terra Contracting Services, LLC business for $6.1 million in cash.

"This sale marks an important step in executing the company's strategy of focusing on the Environmental and Infrastructure segment's core strengths and divesting of nonstrategic services," said Chief Executive Officer Jonathan Berger commented. "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."

Great Lakes Dredge & Dock 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.

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