This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Insituform Technologies, Inc. Joint Venture Awarded $67.3 Million (USD) Tite Liner® Project In Morocco

Insituform Technologies, Inc. (Nasdaq Global Select Market: INSU) announced today that its joint venture, UPS-Aptec Limited, has been awarded a $67.3 million (USD) project for the installation of approximately 135 miles of high-density polyethylene (HDPE) liner in pipelines located in the Khouribga basin in Morocco. UPS-Aptec Limited is 51% owned by United Pipeline Systems International, Inc., a subsidiary of Insituform, and 49% owned by Allied Pipeline Technologies SA, a Chilean company (“APTec”).

UPS-Aptec Limited will install the HDPE liner in new pipelines for the Office Cherifien des Phosphates (OCP) Slurry Pipeline project. OCP is the world’s largest exporter of phosphates and derivatives. UPS-Aptec Limited is a subcontractor to Tekfen Construction and Installation Co. Inc., a Turkish company, the general contractor for the project. The OCP slurry pipeline will be lined with HDPE pipe to provide corrosion protection and abrasion resistance to the newly installed pipelines, which will carry several grades of phosphates to Jorf Lasfar Terminal located between Khouribga and Jorf Lasfar.

J. Joseph Burgess, President and Chief Executive Officer of Insituform, said, “We are proud to have secured this project, which is the largest single project in United Pipeline Systems’ history. Securing this project required the coordinated efforts of United Pipeline Systems, Insituform and APTec. The partnership brings together United Pipeline Systems’ long history and vast experience working on large Tite Liner® projects in new countries while APTec brings the experience of Tehmco SA, a Chilean company and affiliate of APTec (“Tehmco”), in producing HDPE pipe. Tehmco has teamed up with a local HDPE producer and will be adding a new extrusion line to produce the HDPE pipe for the project. This project together with Insituform’s Energy and Mining group’s overall efforts in the Middle East and North Africa are expected to generate over $120 million in revenues in 2012.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs