This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Aegion Corporation Awarded Five-Year Term Contract Valued At Approximately $24.7 Million (USD) For Barwon Water In Australia

Stocks in this article: AEGN

Aegion Corporation (“Aegion” or the “Company”) (Nasdaq Global Select Market: AEGN) today announced that its subsidiary, Insituform Pacific Pty. Limited (“Insituform-Australia”), has been awarded a five-year term contract for Barwon Water in Victoria, Australia. Although Insituform-Australia has previously worked for other clients in Victoria, this is Insituform-Australia’s first contract award from Barwon Water. Insituform-Australia expects to complete approximately $24.7 million (USD) of work throughout the contract’s five-year term.

In 2013, Barwon Water implemented its five-year Water Plan, which is focused on efficient delivery of quality services. In order to increase the operational life of its pipelines, maintain an acceptable risk of asset failure and fulfill its obligation to customers to provide reliable services, the Water Plan forecasts capital expenditures of $305 million (USD) between 2013 and 2018. Barwon Water indicates that the relining of wastewater pipelines is one of its top five capital expenditure items. Barwon Water is Victoria’s largest regional urban water corporation and provides water and wastewater services to more than 295,000 permanent residents. Over the summer holiday period, its service population grows to over 500,000 people.

Beginning in January 2014, Insituform-Australia will oversee the cleaning, inspection and installation of Insituform iPlus® Infusion cured-in-place pipe (CIPP) product in wastewater pipelines ranging from 6 inches to 9 inches in diameter. Job site locations will be throughout Barwon Water’s 5,000 square miles of coverage. Insituform-Australia expects to add approximately 16 new positions in addition to the indirect employment of subcontractors and suppliers in the area.

Daniel Gamboa, General Manager of Insituform-Australia, said, “We are extremely pleased to have secured this contract and to be working with Barwon Water. Initial meetings have shown that Barwon Water is very proactive and experienced in the area of pipeline rehabilitation. Both Barwon Water and Insituform-Australia are committed to safety and quality as well as to working in collaboration to deliver excellent results. This contract allows Insituform-Australia to establish operations in the Melbourne region and pursue opportunities to continue our growth strategy along the Australian east coast. We look forward to this contract being the foundation of significant growth for Insituform-Australia in the Victorian market.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs