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SAINT LOUIS, April 09, 2019 (GLOBE NEWSWIRE) -- Aegion Corporation (“Aegion” or the “Company”) (Nasdaq Global Select Market: AEGN) today announced that its subsidiary, Insituform Technologies, LLC (“Insituform”), has been awarded a contract valued at $5 million from the City of Phoenix, Arizona to complete the rehabilitation of over 32 miles of 8- to 15-inch wastewater pipelines using Insituform® CIPP. This is the third consecutive term contract awarded to Insituform by the City. Work on the project is expected to begin in mid-2019.
Charles R. Gordon, Aegion President and Chief Executive Officer, said, “Insituform has rehabilitated over 75 miles of pipelines in the City of Phoenix over the past three years. Our local operations team has done an exemplary job strengthening our relationship with the City of Phoenix as well as with Dibble Engineering, the City’s consulting engineering firm. We remain committed to continuing this strong project management and operational support throughout the duration of this project.”
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 http://www.aegion.com/.
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, 2018, filed with the Securities and Exchange Commission on March 1, 2019, 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® the Aegion® logo and Insituform® are the registered trademarks of Aegion Corporation and its affiliates.
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Vice President Finance and Investor Relations