Aegion Corporation Awarded New Mechanical and Electrical Services Contract at the ExxonMobil Billings, Montana, Refinery

Rhea-AI Summary

Aegion Corporation (NASDAQ: AEGN) announced that its subsidiary, Brinderson L.P., has been awarded a contract for onsite mechanical and electrical services at ExxonMobil's Billings, Montana refinery. This contract includes daily maintenance and small capital projects, expected to transition in the first half of 2020. Brinderson will utilize proprietary performance tools to enhance efficiency and deliver customer savings. CEO Charles R. Gordon highlighted this as a crucial step in the company's geographic expansion strategy in the Rocky Mountain region, following a similar recent contract in Salt Lake City.

Positive

• Brinderson awarded a contract with ExxonMobil, enhancing revenue opportunities.
• Introduction of proprietary performance tools expected to deliver significant customer savings.
• Strengthens geographic expansion strategy into the Rocky Mountain region.

Negative

• None.

SAINT LOUIS, Mo., May 18, 2020 (GLOBE NEWSWIRE) -- Aegion Corporation (Nasdaq Global Select Market: AEGN) today announced that a subsidiary of the Energy Services segment, Brinderson L.P. (“Brinderson”), has been awarded a contract as the primary onsite mechanical and electrical services contractor for ExxonMobil at the Billings, Montana, refinery, providing a variety of embedded services, including daily onsite maintenance and small capital projects. The transition is expected to be completed in the first half of 2020.

Brinderson will provide overall management and provision of mechanical and electrical services. Brinderson will also implement several of its proprietary performance improvement tools, including DelayTrak^® and TimeTrak^℠, which have a proven track record of delivering significant customer savings. 

Charles R. Gordon, Aegion’s President and CEO, said, “Following Brinderson’s recently completed transition in Salt Lake City, this award represents the second major oil refinery maintenance agreement in the Rocky Mountain region in 2020, and another positive milestone for our geographic expansion strategy into select new markets outside of the West Coast. We continue to pursue additional opportunities in the region to bring our high-quality refinery maintenance services to new customers.”     

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 https://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. 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

FAQ

What recent contract was awarded to Aegion Corporation subsidiary Brinderson?

Brinderson was awarded a contract to provide onsite mechanical and electrical services for ExxonMobil at the Billings, Montana refinery.

When is the transition for the ExxonMobil contract expected to be completed?

The transition is expected to be completed in the first half of 2020.

What services will Brinderson provide at the ExxonMobil refinery?

Brinderson will provide daily onsite maintenance and manage small capital projects.

What performance improvement tools will Brinderson implement?

Brinderson will implement proprietary tools including DelayTrak® and TimeTrak®.

How does this contract impact Aegion's expansion plans?

This contract represents a key milestone in Aegion's strategy to expand into new markets outside the West Coast, particularly in the Rocky Mountain region.