Water treatment and construction services company Layne Christensen Co. (LAYN: Quote) said Friday the Washington Suburban Sanitary Commission, or WSSC, has awarded the company an Indefinite Delivery, Indefinite Quantity contract for sanitary sewer repairs, replacement and renewals in environmentally sensitive areas.
The contract has a value to Layne Inliner of up to $70 million, with a WSSC option for an additional $10 million in work, the company said.
This is the third IDIQ contract that WSSC has awarded to Layne's Inliner division since 2011, and raises the combined contract value with WSSC to up to $120 million, excluding WSSC options for additional work.
Work is in the early stages on the first two WSSC contracts. Each of the three IDIQ contracts has a five-year base term with optional two-year renewals.
Click here to receive FREE breaking news email alerts for Layne Christensen Co. and others in your portfolio
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Business News