John T. Nesser III Elected to Layne Christensen's Board of Directors
THE WOODLANDS, Texas, Aug. 29, 2013 (GLOBE NEWSWIRE) -- Layne Christensen
Company (Nasdaq:LAYN) ("Layne" or the "Company") today announced that on
August 23, 2013 the Board of Directors elected John T. Nesser III as an
independent director, effective September 5, 2013. Mr. Nesser will fill the
vacancy created by the retirement from the Board of Jeffrey J. Reynolds on
June 6, 2013.
Mr. Nesser, 64, brings 40 years of executive, corporate, and legal experience
to Layne, including a proven record of success in the international oil & gas,
engineering & construction, and maritime industries. Beginning in 1998 through
his retirement in July 2011, Mr. Nesser held positions of increasing
responsibility at McDermott International, a NYSE–listed international
engineering and construction company, including Chief Operating Officer
responsible for all worldwide operations, Chief Administrative and Legal
Officer and General Counsel.During his tenure at McDermott, Mr. Nesser
directed efforts to improve project capture and backlog enhancement, project
execution, financial performance, safety, and shareholder return. Prior to
joining McDermott, Mr. Nesser spent seven years as a partner, and then 13
years as a co-founding partner, of two major law firms.
Mr. Nesser holds a BS from Louisiana State University, and a JD from the
Louisiana State University Law Center.He is a member of the Louisiana and
Texas bar associations, the Board of Directors of Thermon Group Holdings,
Inc., the Louisiana State University Law Center Board of Trustees, and the
Board of Directors of Boys & Girls Country of Houston.
Rene Robichaud, Chief Executive Officer of Layne, said, "John brings an
impressive level of experience, skills and a proven record of achievement to
Layne.We welcome him to the Board and look forward to his counsel and
Layne Christensen Company
Layne is a global water management, construction and drilling company,
providing responsible solutions to the world of essential natural resources —
water, mineral and energy.We offer innovative, sustainable products and
services with an enduring commitment to safety, excellence, and integrity.
This press release may contain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange
Act of 1934.Such statements may include, but are not limited to, statements
of plans and objectives, statements of future economic performance and
statements of assumptions underlying such statements, and statements of
management's intentions, hopes, beliefs, expectations or predictions of the
future.Forward-looking statements can often be identified by the use of
forward-looking terminology, such as "should," "intended," "continue,"
"believe," "may," "hope," "anticipate," "goal," "forecast," "plan," "estimate"
and similar words or phrases. Such statements are based on current
expectations and are subject to certain risks, uncertainties and assumptions,
including but not limited to:the outcome of the ongoing internal
investigation into, among other things, the legality, under the FCPA and local
laws, of certain payments to agents and other third parties interacting
withgovernment officials in certain countries in Africa relating to the
payment of taxes and the importing of equipment (including any government
enforcement action which could arise out of the matters under review or that
the matters under review may have resulted in a higher dollar amount of
payments or may have a greater financial or business impact than management
currently anticipates), prevailing prices for various commodities,
unanticipated slowdowns in the Company's major markets, the availability of
credit, the risks and uncertainties normally incident to the construction
industry, the impact of competition, the effectiveness of operational changes
expected to increase efficiency and productivity, worldwide economic and
political conditions and foreign currency fluctuations that may affect
worldwide results of operations. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially and adversely from those anticipated,
estimated or projected.These forward-looking statements are made as of the
date of this filing, and the Company assumes no obligation to update such
forward-looking statements or to update the reasons why actual results could
differ materially from those anticipated in such forward-looking statements.
CONTACT: Layne Christensen Company
Chief Financial Officer
Director of Communications
The Equity Group Inc.
Sr. Vice President
Layne Christensen Company
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