Aegion Corporation (“Aegion” or the “Company”) (Nasdaq Global Select Market: AEGN) today announced that the Metropolitan Water Reclamation District of Greater Chicago has awarded a $12.4 million contract to its Infrastructure Solutions platform for the rehabilitation of wastewater pipelines in the Village of Tinley Park, the Village of Oak Forest, Cook County Forest Reserve and unincorporated Cook County.
Insituform® cured-in-place pipe (CIPP) will be installed to rehabilitate approximately 14,000 feet of 60-inch wastewater pipelines. Installation is expected to begin in late 2016 with completion slated by the end of the first quarter of 2018.
Frank Firsching, Aegion’s Infrastructure Solutions President, said, “Our Company has more experience designing, manufacturing and installing CIPP than anyone and we are committed to complete this project safely. We will work with the Metropolitan Water Reclamation District of Greater Chicago to ensure that these communities experience minimal disruption throughout the installation. Upon completion, the hydraulic and structural integrity of these pipelines will be restored, inflow and infiltration will be reduced and the rehabilitated pipelines will provide service to this community for decades to come.”
About Aegion Corporation
Aegion Corporation is a global leader in infrastructure protection and maintenance, providing proprietary technologies and services: (i) to protect against the corrosion of industrial pipelines; (ii) to rehabilitate and strengthen water, wastewater, energy and mining piping systems and buildings, bridges, tunnels and waterfront structures; and (iii) to utilize integrated professional services in engineering, procurement, construction, maintenance and turnaround services for a broad range of energy related industries. More information about Aegion can be found on our internet site at www.aegion.com.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. The Company makes forward-looking statements in this news release that represent the Company’s beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to the Company 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 the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, as filed with the Securities and Exchange Commission on February 29, 2016, and in the Company’s subsequent quarterly reports on Form 10-Q. In light of these risks, uncertainties and assumptions, the forward-looking events may not occur. In addition, the Company’s actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, the Company 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 the Company from time to time in its 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 the Company in this news release are qualified by these cautionary statements.
Aegion® and Insituform® are the registered trademarks of Aegion Corporation and its affiliates.
(AEGN-GEN)
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Contacts:
David F. Morris, 636-530-8000
Executive
Vice President and Chief Administrative Officer
