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 four-year term contract for Hunter Water Corporation in the lower Hunter Region centered in Newcastle, New South Wales, Australia. The total value of the term contract is approximately $5.8 million (USD) and replaces the prior five-year term contract recently completed by Insituform Australia.
Over the past five years, Insituform Australia crews successfully installed more than 62 miles of Insituform ® cured-in-place pipe (CIPP) across the Hunter region. In addition, Insituform Australia crews performed a range of related wastewater pipeline rehabilitation work including descaling of aging cast iron mains, cleaning and inspection of pipelines, rehabilitation of reticulation and trunk mains and lateral junction reinstatement and repairs. Under the terms of this new four-year term contract, Insituform Australia will continue these additional services as well as perform civil works and raising and restoring sewer access chambers. Insituform Australia expects to rehabilitate more than six miles of wastewater pipelines per year using either Insituform ® CIPP or iPlus Infusion®, Insituform’s solution engineered for small diameter pipelines.
Daniel Gamboa, General Manager of Insituform Australia, said, “We appreciate the opportunity to continue Insituform Australia’s successful relationship with Hunter Water Corporation. We have the right CIPP solutions and experienced crews to successfully complete the contract over the next four years. The Hunter region is strategically important to us. Insituform Australia’s operations in the Hunter region allow us to efficiently service the north coast of New South Wales and create an important corridor for us between Newcastle and Brisbane."
Installations of Insituform ® CIPP will take place throughout Hunter Water’s coverage area, which includes residential, industrial, agriculture, recreation and parkland areas. Insituform Australia’s work on descaling will provide risk-based assessment and restoration of aging cast iron mains under historically significant buildings and other assets and critical infrastructure.Work on the contract is expected to begin in February 2014.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV