Jun. 26, 2013, 11:38 AMAegion (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. | Jun. 26, 2013, 11:38 AM | Comment!
Jun. 25, 2013, 9:24 AMAegion (AEGN) agrees to acquire Brinderson L.P. for $150M, a deal that opens up the pipeline rehabilitation company to a new end market for the maintenance of upstream and downstream facilities. AEGN maintains its 2013 EPS guidance at $1.60-$1.80; sees 2013 return on invested capital of 7%-8%, lower than previous guidance. | Jun. 25, 2013, 9:24 AM | Comment!
Aegion Corp is engaged in infrastructure protection. It offers proprietary technologies and services to protect against corrosion of industrial pipelines and rehabilitation and strengthening of sewer and mining piping systems, buildings and structures.
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