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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Aegion Corporation Receives Maintenance Contracts From Tesoro Corporation For Three Of Its California Refinery Operations

Aegion Corporation (“Aegion” or the “Company”) (Nasdaq Global Select Market: AEGN) today announced that its subsidiary, Brinderson, L.P. (“Brinderson”), has received a long term contract extension for work at the Los Angeles refinery operated by Tesoro Refining & Marketing Company LLC (“Tesoro”). In addition, Tesoro renewed its contract with Brinderson for its Golden Eagle refinery in Martinez, California. The combined expected 2014 revenues, pending adherence to all performance and safety criteria per the contracts, are to be approximately $40 million, with $20 million of incremental revenue in 2014 to Brinderson.

Tesoro Corporation, a Fortune 100 company and the parent company of Tesoro Refining & Marketing Company LLC, is an independent refiner and marketer of petroleum products. Tesoro Corporation, through its subsidiaries, operates six refineries in the western United States with a combined capacity of 850,000 barrels per day.

Over the term of the contracts, Brinderson will provide routine maintenance and repair services as well as perform small capital construction projects at all three Tesoro refinery locations. Tesoro’s Los Angeles refining operation is the largest refinery on the West Coast and a major producer of clean fuels. When at full capacity, the refinery complex can process 363,000 barrels per day.

Russell Conda, Brinderson’s President, commented, “We are honored Tesoro has again shown their confidence in Brinderson’s ability to support the maintenance of their facilities. This is a significant award for us and demonstrates our capabilities to deliver an industry leading safety record and high quality onsite performance. We take great pride in our safety programs that have generated over one million hours without a recordable incident. Brinderson’s ability to add predictable value accretion to our client’s facilities helped us to secure this award. We look forward to our continued, and now expanded, relationship with Tesoro.”

Work being performed at Tesoro refineries has continued uninterrupted during the process of negotiating the contracts between Tesoro and Brinderson.

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 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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