THE WOODLANDS, Texas, June 27, 2016 /PRNewswire/ -- Layne Christensen Company (NASDAQ: LAYN) ("Layne") today announced that the Company has been added to the broad market Russell 3000®, small-cap Russell 2000®, and Russell Global Indexes effective after the close of market on June 24, 2016, in association with Russell Investments' annual reconstitution of its comprehensive set of U.S. and global equity indexes.
"We are pleased to be included in the Russell Indexes," said Michael J. Caliel, President and Chief Executive Officer. "This inclusion demonstrates the progress we have made over the last year in building shareholder value and will expose our company to a wider audience of investors."
Approximately $6 trillion in assets are benchmarked to Russell indexes, which are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. The Russell 3000 Index, representing about 98% of the investable US equity market, is comprised of the US large cap Russell 1000 Index (the largest 1,000 US listed stocks by market capitalization) and the US small cap Russell 2000 Index (the next 2,000 largest US listed stocks by market capitalization).
Layne Christensen Company
Layne is a global water management, construction and drilling company, providing responsible solutions to the world of essential natural resources — water, minerals and energy. We offer innovative, sustainable products and services with an enduring commitment to safety, excellence, and integrity.
J. Michael Anderson
Chief Financial Officer
Dennard Lascar Associates
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/layne-christensen-joins-russell-indexes-300290351.html
SOURCE Layne Christensen Company