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Stock Market & Financial Investment News

News Breaks
January 3, 2013
12:53 EDTGLDDGreat Lakes Dredge downgraded to Neutral from Buy at DA Davidson
News For GLDD From The Last 14 Days
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October 21, 2014
07:33 EDTGLDDGreat Lakes Dredge JV announces sale of NYSS to Eastern Concrete Materials
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06:32 EDTGLDDU.S. Concrete subsidiary acquires New York and Stone from Amboy Aggregates
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October 20, 2014
08:10 EDTGLDDGreat Lakes Dredge signs $540M contract for Suez Canal project
Great Lakes Dredge announced that the chairman of the Suez Canal Authority, Mohab Mohamed Hussein Mamish, in the presence of the Prime Minister of Egypt, Ibrahim Mahlab, signed a contract with the Consortium consisting of Great Lakes and Dredging International NV for Lot 6 of the widening and deepening of the Suez Canal. The contract is valued at $540M and is part of a larger project to expand global trade and strengthen the economy in Egypt. The contract awarded to the Consortium involves the widening and deepening to negative 79 feet of the western branch of the Suez Canal at Great Bitter Lake, Deversoir Reach and Kabret Reach, which is a 25 kilometer stretch of the canal. Dredging International will mobilize four cutter suction dredges and two hopper dredges and auxiliary equipment while Great Lakes will mobilize its Middle East-based heavy duty, high production cutter suction dredges, the ‘Carolina’ and the ‘Ohio,’ pipelines and auxiliary support equipment. The vessels will mobilize to Egypt in November and commence dredging operations before year-end. The Consortium’s scope of work is expected to be completed by the end of 3Q15.

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