Historic Great Lakes Dredge & Dock Moves To Houston
Since its founding in 1890 Great Lakes Dredge & Dock Company, (NASDAQ: GLDD), the country’s largest provider of dredging services, has been headquartered in Chicago but, last week the company announced, it’s joining countless maritime companies who have, in recent years, moved its corporate headquarters to Houston, Texas.
GLDD – whose industrial might has helped create, shape and restore many of America’s biggest ports, harbors and shorelines – operates on every domestic coastline and throughout many inland U.S. waterways, with an expansive fleet of specialized dredging vessels. It also has performed international operations, mostly in the Middle East.
“The move to Houston is a testament to the region’s extraordinary diversity of talent and competitive landscape and supports our important connections and outreach in geographies that will better serve our customer base,” CEO Lasse Petterson said.
The Houston headquarters, scheduled to open in early 2021 with its executive leadership team, will be staffed gradually over the next 12 months. Gov. Greg Abbott welcomed the company to Texas, calling it a U.S. leader in the dredging and marine infrastructure industries.
The relocation stems in part from changing industry dynamics as the dredging market has shifted from Northern Illinois and the Great Lakes to work along the Gulf Coast and in the northeast and southeast coastal regions.
“Having our main office in Texas and strategically opening new regional offices allows us to engage more effectively with our major customers like the U.S. Army Corps of Engineers and private energy clients” Petterson said.
The move also will allow the company to leverage its long-term relationships with the Center for Dredging Studies at Texas A&M University, Louisiana State University and other universities that feature coastal resilience and natural infrastructure initiatives.
Since its founding, the company has been a leader in the building and maintenance of the nation’s navigation system and operates the nation’s largest and most diverse dredging fleet. It is the only U.S. company with significant international dredging experience and has more than 1,000 employees globally.
The company also announced they have opened strategic regional offices in Jacksonville, Fla., and Staten Island, N.Y., where it long has run major projects and expects to take on additional work.
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