Layne Christensen Co. announces that it has acquired the remaining 50 percent interest of Costa Fortuna Fundacoes e Construcoes Ltda ("Costa Fortuna") that it did not previously own. Layne acquired its initial 50-percent interest in Costa Fortuna in July 2010.
Costa Fortuna, with operations in Sao
Paulo, Brazil, and Montevideo, Uruguay, is part of Layne's Geoconstruction
Group, and is one of the largest providers of specialty foundation and
specialized marine geotechnical services in South America. Costa Fortuna
specializes in the implementation of large-diameter bored piles, diaphragm
walls, root piles, soil nailing, jet grouting, investigatory geotechnical
services, and maritime and river specialized foundations.
Layne CEO, Rene Robichaud, states,
"Costa Fortuna has been a strong performer, and we believe that there is a
significant opportunity to expand Layne's geotechnical construction
capabilities in South America over the next several years. The Brazilian
construction market is estimated at well over $100 billion for the next five
years, with a substantial portion expected in market opportunities generated by
the World Cup in 2014 and the Olympic Games in 2016. As a market leader in
South America, Costa Fortuna enjoys established construction industry
partnerships, a track record of successfully completing specialized, complex
projects, and a reputation for integrity and dependability.
They will fit nicely as we apply the principles
of OneLayne to pursue solutions-based project opportunities across all
divisions and geographies."
Layne Christensen Acquires Costa Fortuna
June 19, 2012