Aegion Corporation (“Aegion” or the “Company”) (Nasdaq Global Select Market: AEGN) today announced the award to Corrpro Companies, Inc. (“Corrpro”), a subsidiary of Aegion, of a three-year, firm-fixed-price quantity contract valued at approximately $10 million from the US Army Corps of Engineers.
The scope of services under the three-year contract for cathodic protection and corrosion control services at military installations worldwide pertains primarily to fuel storage tanks and transfer pipeline assets and encompasses all aspects of corrosion engineering. This includes the assessment, design and installation of cathodic protection systems, corrosion studies, training of base personnel, field consulting during construction and system evaluation through post construction award services.
Corrpro President Greta Senn, commented, “We are pleased to partner with the US Army Corps of Engineers through their Corrosion Services Worldwide program. Dating back to 2003, this is Corrpro’s third Corrosion Services Worldwide IDIQ contract award, and Corrpro’s first contract with the US Army Corps of Engineers. As a leading company dedicated to corrosion engineering, Corrpro has extensive experience in the engineering design, build and monitoring of cathodic protection systems used to protect and extend the useful life of vital assets. This award is another instance with which Corrpro has proven itself as a company dedicated to corrosion engineering for the Department of Defense.”
About Aegion CorporationAegion 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 Corrpro Companies, Inc. Corrpro Companies, Inc., a subsidiary of Aegion Corporation, is a leading provider of cathodic protection systems and engineering services. Corrpro Companies offers corrosion solutions for every industrial market including pipeline, refinery, above and underground storage tanks, water, wastewater, concrete, infrastructure, offshore and marine. More information about Corrpro can be found on its internet site at www.corrpro.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 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.