Layne to Construct West Coast's Tallest Tower - Analyst Blog
20 Septembre 2013 - 12:05AM
Zacks
Layne Christian Company (LAYN) recently
announced that its Geoconstruction Division was awarded an
approximately $19-million worth special contract related to the
construction of the Tansbay Tower in San Francisco. The
construction work is expected to take six months to complete and it
would begin in Oct 2013.
The scope of the contract requires the Geoconstruction Division
to construct the building foundation system using LBE (load bearing
elements). These LBEs are specially designed to support vertical
loads from the building framing system and transfer them to the
foundation. The foundation is expected to have a depth of 245
feet.
The Tansbay Tower, for which Layne is awarded the foundation
construction contract, is expected to be the tallest tower in the
West Cost with a height of 1,070 feet and having 61 stories. This
tower will be constructed next to the Transit Center, which is a
visionary transportation and housing project that is believed to
transform downtown San Francisco and the San Francisco Bay Area’s
regional transportation system by building a “Grand Central Station
of the West” in the heart of a new transit-friendly
neighborhood.
Layne Christian’s Geoconstruction Division essentially provides
specialized geotechnical foundation construction services to heavy
civil, industrial, commercial and private construction markets
across the globe.
Layne Christian is a global water management, construction and
drilling company. Currently, the company has a Zacks Rank #5
(Sell). However, other companies that can be considered at the
moment are ITT Corp. (ITT), Kaydon
Corp. (KDN) and AO Smith Corp. (AOS). All
three carry a Zacks Rank #2 (Buy).
SMITH (AO) CORP (AOS): Free Stock Analysis Report
ITT CORP (ITT): Free Stock Analysis Report
KAYDON CORP (KDN): Free Stock Analysis Report
LAYNE CHRISTENS (LAYN): Free Stock Analysis Report
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