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.”