Aegion Corporation Awarded $5.2 Million CIPP Contract from the Metropolitan St. Louis Sewer District
SAINT LOUIS, MO, January 15, 2014 - Aegion Corporation ("Aegion" or the "Company") (Nasdaq Global Select Market: AEGN) today announced that its subsidiary, Insituform Technologies USA, LLC ("Insituform"), has been awarded a contract valued at $5.2 million from the Metropolitan St. Louis Sewer District (MSD). The project requires the rehabilitation of over 25 miles of small- and medium-diameter pipelines throughout the St. Louis metropolitan area using the Insituform® cured-in-place pipe technology. Including this latest award, Aegion has announced over $22 million in contract awards from MSD since April 2013.
Kenneth Foster, Vice President and General Manager of Insituform's North American Rehabilitation West Region, said, “Insituform’s relationship with St. Louis MSD is in its thirtieth year. We are pleased to continue that relationship by participating in the latest wastewater pipeline rehabilitation plan by MSD and will continue to focus our efforts on providing superior project management and execution on this and every project for MSD.”
Insituform expects to begin work on this project in January 2014 and complete the work by January 2015.
About Aegion Corporation
Aegion Corporation is a global leader in infrastructure protection and maintenance, providing proprietary technologies and services: (i) to protect against the corrosion of industrial pipelines; (ii) to rehabilitate and strengthen water, wastewater, energy and mining piping systems and buildings, bridges, tunnels and waterfront structures; and (iii) to utilize integrated professional services in engineering, procurement, construction, maintenance and turnaround services for a broad range of energy related industries. More information about Aegion can be found on our 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 Company's beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to the Company and on management's 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 Company's 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 Company's 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 Company's 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 statements, 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® and the Aegion® logo are the registered trademarks of Aegion Corporation and its affiliates.
For more information, contact:
David F. Morris
Senior Vice President and Chief Administrative Officer