Aegion Corporation (“Aegion” or the “Company”) (Nasdaq Global Select Market: AEGN) today announced its subsidiary, Insituform Technologies Limited (“Insituform”), was awarded a $10.6 million (USD) contract from the City of Montreal, Quebec, Canada.
Insituform will rehabilitate more than 9 miles of 12-inch to 42-inch diameter wastewater pipelines with its cured-in-place pipe (CIPP) technology. The complex rehabilitation work will include egg-shaped brick pipeline sections that are approximately 100 years old. Insituform also will perform a variety of contract services including reinstating more than 2,100 service connections using its proprietary robotic technology and manhole replacements.
Insituform expects to begin work in July 2013 and complete the work over the next 12 months. Installations will take place in downtown Montreal as well as boroughs located throughout the city.
Ken Foster, President of Insituform Technologies in Canada, said, “Insituform opened an office in Montreal in 2010 to actively build a presence in eastern Canada. We look forward to working with the City of Montreal to successfully complete this project with minimal disruption to the community.”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 Limited For over thirty years, Insituform Technologies Limited, a subsidiary of Aegion Corporation, has been a 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. Forward-Looking Statements 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 28, 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.