Aegion Corporation Awarded $8 Million Contract for Large-Diameter Wastewater Rehabilitation Work in Texas
Aegion Corporation (NASDAQ: AEGN) announced a significant contract win for its subsidiary, Insituform Technologies, valued at $8 million. The project involves rehabilitating over 12,000 linear feet of sanitary sewer mains in Southwest Texas using advanced trenchless technology. This method minimizes disruption and reduces costs, highlighting ongoing investment needs in aging wastewater infrastructure. Aegion's President and CEO, Charles R. Gordon, expressed confidence in the project, which is set to commence this fall and be completed by the end of 2021.
- Awarded a contract worth $8 million for wastewater rehabilitation.
- Rehabilitation of over 12,000 linear feet enhances infrastructure.
- Trenchless technology reduces project costs and minimizes disruption.
- None.
ST. LOUIS, Aug. 17, 2020 (GLOBE NEWSWIRE) -- Aegion Corporation (NASDAQ:AEGN) today announced that its subsidiary, Insituform Technologies, LLC, has been awarded a wastewater rehabilitation contract valued at
Insituform will rehabilitate more than 12,000 linear feet of existing sanitary sewer main utilizing trenchless technology, including 24-inch to 60-inch cured-in-place pipe (CIPP). The “no-dig” rehabilitation method reduces overall project costs and minimizes disruptions to residents. Crews will also perform bypass pumping, miscellaneous point repairs and associated manhole improvements.
Charles R. Gordon, Aegion’s President and CEO, said, “We continue to be pleased with the strength of the bid table this year as the need for ongoing investment to repair aging wastewater pipelines remains critical. This is one of the larger projects Aegion has won in the region in recent years, and we look forward to completing the work safely using our industry-leading trenchless technologies.”
The project is expected to begin this fall and conclude by the end of 2021.
About Aegion Corporation (NASDAQ: AEGN)
Aegion combines innovative technologies with market-leading expertise to maintain, rehabilitate and strengthen infrastructure around the world. Since 1971, the Company has played a pioneering role in finding transformational solutions to rehabilitate aging infrastructure, primarily pipelines in the wastewater, water, energy, mining and refining industries. Aegion also maintains the efficient operation of refineries and other industrial facilities. Aegion is committed to Stronger. Safer. Infrastructure®.
More information about Aegion can be found at www.aegion.com.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Aegion’s forward-looking statements in this news release represent its beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to Aegion 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 Aegion’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission on March 2, 2020, and in subsequently filed documents, and, in particular, the impact of the current COVID-19 virus outbreak and the evolving response thereto. In light of these risks, uncertainties and assumptions, the forward-looking events may not occur. In addition, Aegion’s actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, Aegion 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 Aegion from time to time in Aegion’s 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 Aegion in this news release are qualified by these cautionary statements.
Aegion® and the Aegion® logo are the registered trademarks of Aegion Corporation and its affiliates.
For more information, contact:
Katie Cason
Senior Vice President, Strategy and Communications
636-530-8000 | kcason@aegion.com
FAQ
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