Aegion (AEGN -1.3%) has sold its 50% interest in Insituform Rohrsanierungstechniken GmbH to the...

|About: Aegion Corporation (AEGN)|By:, SA News Editor

Aegion (AEGN -1.3%) has sold its 50% interest in Insituform Rohrsanierungstechniken GmbH to the Danish company Per Aarsleff A/S, for €14M, or about $18.3M. The company was already jointly owned with Aarsleff. In connection with the sale, Insituform-Germany enters into a product supply agreement with AEGN to purchase on an annual basis at least $3.6M of felt cured-in-place pipe liners during a two-year period from June, 2013 to June, 2015.