MISSION WOODS, KS, July 14, 2006 -- Layne Christensen Company announced yesterday it has acquired Collector Wells International, Inc. (CWI), a specialty water services firm that designs and constructs water supply systems with yields ranging from less than 1 million gallons per day to over 100 million gallons per day.
The management team of CWI has been together for over 25 years. CWI will be combined with a similar business acquired in the Reynolds Inc. acquisition completed in September 2005. CWI had combined revenues of about $6.5 million in the previous 12 months and brings in approximately $9.6 million in current contracts. The acquisition was financed through normal revolving bank credit lines.
Key among the water supply systems provided by CWI and Reynolds are radial collector wells, seawater collector wells, fixed-screen surface water intakes, infiltration galleries/riverbank infiltration, hydrogeological investigations, including riverbank filtration studies and water supply development feasibility studies...
Radial collector wells (often referred to as Ranney wells) offer many unique solutions to a variety of water supply needs. When properly sited and constructed in alluvial aquifers near streams, rivers, and lakes, these units can yield up to 50 million gallons per day from a single well. Given the high capacity and unique design, they offer many advantages over traditional approaches and are well suited to the growing international desalination marketplace.
Jeff Reynolds, Executive Vice President of Layne and head of the Company's Water and Wastewater Infrastructure division, stated, "We are very excited and proud to have CWI as part of the Layne family of companies. Our combined experience, resources and technologies should afford our customers an unprecedented level of service and capabilities."
Layne Christensen Company (www.laynechristensen.com) provides sophisticated services and related products for the water, mineral, construction and energy markets.
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