GLDD and ERH Enter Joint Venture

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) announced on July 20 that it had entered into a joint venture with Environmental Remediation Holding Inc. (ERH) a subsidiary of DEC of Belgium.

DEC is an an international environmental specialist and 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 clean up and remediation of sediments soil and groundwater for both marine and land based projects.

Chief Executive Officer Jonathan Berger stated “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” he said.