Great Lakes Names New President of NASDI LLC
OAK BROOK, Ill., Aug 17, 2011 (BUSINESS WIRE) --
Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD), the largest provider of dredging services in the United States and a major provider of commercial and industrial demolition services, today announced that Martin J. Battistoni joined its demolition subsidiary, NASDI, LLC as President effective Monday August 15, 2011. Marty will be responsible for the management of NASDI including business segment growth, marketing, project execution, financial performance, administration and safety. He will be responsible for growing the existing business as well as expanding services to include environmental remediation in alignment with our TerraSea Environmental Solutions joint venture with DEC. He will report to Bruce Biemeck, GLDD's President & Chief Financial Officer.
Marty brings a wealth of executive leadership experience having successfully managed environmental remediation and demolition businesses and has significant project management experience. Marty comes to Great Lakes from WRS Compass where he served as President of the Environmental Services Division, responsible for managing nationwide projects, personnel and financial operations in this $200 million infrastructure, demolition and remediation services company. Previously, Marty was President and Chief Operating Officer of Compass Environmental Inc., which was acquired by WRS in 2007. Prior to his executive roles with WRS and Compass he of was Vice President of Parsons Corporation responsible for national environmental remediation and construction. He has been in positions and roles of increasing responsibility with IT Corporation, Waste Management, Rust Remedial Services and OHM Remediation Services, all highly respected companies.
Marty Battistoni, NASDI's President said "I am excited about the opportunity at NASDI and the resources that Great Lakes has amassed in defining a growth strategy for NASDI. The opportunities NASDI has in front of us with Great Lakes and TerraSea Environmental Services are tremendous. I believe our NASDI team is well positioned to be the leading demolition and environmental services contractor in the US. I look forward to working with the Great Lakes team."
Bruce Biemeck, Great Lake's President & CFO said, "Marty's professional experience includes past appointments as Executive, Director and Project Sponsor on high profile projects of national interest involving remediation and disposal of contaminated materials. He has been a frequent speaker on site redevelopment and remediation of brownfield redevelopments. His expertise is in demand when an environmental problem is discovered."
Marty holds a B.S. Degree in Thermal and Environmental Engineering from Southern Illinois University. He holds several OSHA Certifications in the important areas of Safety, Hazardous Materials and Project Management and held a Certified Senior Level Hazardous Materials Manage License.
"Since arriving last year, Jon Berger, CEO and I have discussed the repositioning of NASDI. The appointment of Marty as President of NASDI is a critical piece in our ongoing plan for the development of NASDI, integration with Great Lakes and escalation of our environmental services on land and in the water. Under Marty's leadership the demolition segment is now ready to embark on the many opportunities ahead working with TerraSea and Great Lakes. Earlier this year we established a new bridge demolition division, which has been a solid contributor to earnings. The critical pieces of our plan are in place, management is focused on growth and opportunities afforded us in the market. Jon and I are pleased with the progress of our strategic planning for the demolition. We look forward to working with Marty and welcome Marty to the NASDI and Great Lakes team."
The Company
Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States and the only U.S. dredging company with significant international operations. The Company is also one of the largest U.S. providers of commercial and industrial demolition services primarily in the Northeast. Additionally, the Company owns a 50% interest in a marine sand mining operation in New Jersey which supplies sand and aggregate used for road and building construction. Great Lakes employs over 150 degreed engineers, most specializing in civil and mechanical engineering, which contributes to its 121-year history of never failing to complete a marine project. Great Lakes has a disciplined training program for engineers which ensures experienced-based performance as they advance through Company operations. Great Lakes also owns and operates the largest and most diverse fleet in the U.S. industry, comprised of over 200 specialized dredging and support vessels.
TerraSea Environmental Solutions provides water and land based environmental services in the area of clean up and remediation of sediments, soil and groundwater for both marine and land based projects. The joint venture between Great Lakes and DEC (a $400 million a year European based remediation company) was established to capitalize on the expertise of the two equal partners for projects in the United States offering optimally engineered global solutions for environmental cleanup needs.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking" statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission ("SEC"), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. Forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words "plan," "believe," "expect," "anticipate," "intend," "estimate," "project," "may," "would," "could," "should," "seeks," or "scheduled to," or other similar words, or the negative of these terms or other variations of these terms or comparable language, or by discussion of strategy or intentions. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements with respect to Great Lakes, include, but are not limited to, risks associated with Great Lakes' leverage, fixed price contracts, dependence on government contracts and funding, bonding requirements and obligations, international operations, government regulation, restrictive debt covenants and fluctuations in quarterly operations, and those factors, risks and uncertainties that are described in Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2010, and in other securities filings by Great Lakes with the SEC.
Although Great Lakes believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any forward-looking statements. Great Lakes' future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.
SOURCE: Great Lakes Dredge & Dock Corporation
Great Lakes Dredge & Dock Corporation
Katie Hayes, Director of Investor Relations
630-574-3772
