Aegion Corporation Awarded Two CIPP Contracts Valued at $10.4 Million from the Metropolitan St. Louis Sewer District
ST. LOUIS--(BUSINESS WIRE)-- Aegion Corporation (AEGN) (Aegion or the Company) (Nasdaq Global Select Market: AEGN) today announced that its subsidiary, Insituform Technologies USA, LLC (Insituform), has been awarded two contracts valued at approximately $10.4 million from the Metropolitan St. Louis Sewer District (MSD). The contracts are a part of MSDs $4.7 billion sewer system improvement program.
Kenneth Foster, Vice President and General Manager of Insituforms North American Rehabilitation West Region, said, We are proud to have maintained a strong relationship with the Metropolitan St. Louis Sewer District since 1984. Insituform has been rehabilitating sewer pipelines using our CIPP products and unmatched installation methods throughout St. Louis for nearly 30 years. We are confident that our services to St. Louis MSD will continue to provide value to St. Louis area residents and businesses.
This project includes the installation of approximately 47 miles of cured-in-place pipe (CIPP) in small- and medium-diameter sewer pipelines located in mostly residential areas. There is little to no disruption to surrounding areas during the installation of CIPP.
Insituform will install CIPP using standard inversion methods as well as Insituforms proprietary pull-in installation method, iPlus Infusion®. iPlus Infusion® will be used on most small diameter pipelines on this project and allows increased productivity during the installation process.
Insituform will begin work on this project in August 2013 and is anticipated to complete the work within one year.
About Aegion Corporation
Aegion Corporation is a global leader in infrastructure protection, providing proprietary technologies and services to protect against the corrosion of industrial pipelines and for the rehabilitation and strengthening of sewer, water, energy and mining piping systems and buildings, bridges, tunnels and waterfront structures. More information about Aegion can be found on its internet site at www.aegion.com.
About Insituform Technologies USA, LLC
For over forty years, Insituform Technologies USA, LLC, a subsidiary of Aegion Corporation, has been a global leader in the development and installation of proprietary technologies and services for rehabilitating sewer, water and other underground piping systems without digging or disruption. More information about Insituform Technologies can be found on its Internet site at www.insituform.com.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. The Company makes forward-looking statements in this news release that represent the Companys beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to the Company and on managements beliefs, assumptions, estimates or projections and are not guarantees of future events or results. When used in this document, the words anticipate, estimate, believe, plan, intend, may, will and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Such statements are subject to known and unknown risks, uncertainties and assumptions, including those referred to in the Risk Factors section of the Companys Annual Report on Form 10-K for the year ended December 31, 2012, as filed with the Securities and Exchange Commission on February 27, 2013, and in the Companys subsequent quarterly reports on Form 10-Q. In light of these risks, uncertainties and assumptions, the forward-looking events may not occur. In addition, the Companys actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, the Company does not assume a duty to update forward-looking statement, whether as a result of new information, future events or otherwise. Investors should, however, review additional disclosures made by the Company from time to time in its periodic filings with the Securities and Exchange Commission. Please use caution and do not place reliance on forward-looking statements. All forward looking-statements made by the Company in this news release are qualified by these cautionary statements.
Aegion®, Insituform®, iPlus Infusion® and the Aegion® logo are the registered trademarks of Aegion Corporation and its affiliates.
David F. Morris, 636-530-8000
Senior Vice President and Chief Administrative Officer
Source: Aegion CorporationCopyright Business Wire 2013