Aegion Corporation Projects Receive Top Industry Honors for Second Consecutive Year
March 08 2018 - 2:00PM
Aegion Corporation (“Aegion” or the “Company”) (Nasdaq:AEGN)
announced today that Trenchless Technology magazine will recognize
three Aegion rehabilitation projects on March 26, 2018 at the
annual No-Dig Show, the largest trenchless technology conference in
North America. Aegion’s municipal cured-in-place pipe (CIPP)
business received top honors in the Rehabilitation category; its
third-party sales business supplied the CIPP product to the
Runner-Up project; and a project using the Tite Liner® system
received an Honorable Mention.
For the top honors in the Rehabilitation category, Insituform
Technologies, Inc., a subsidiary of Aegion, rehabilitated 5,700
feet of 48-inch prestressed concrete cylinder pressure pipe in West
Palm Beach, Florida. This project, one of the largest pressure pipe
rehabilitation projects to date, was a new achievement for the
InsituMain® CIPP system at a larger diameter, length and pressure.
The installation required significant coordination between the
owner, several subcontractors, residents and local businesses,
including high-end condos and homes and a private country club and
golf course. The entire project was completed in seven weeks.
Aegion’s third-party product sales business, Manufactured
Technologies Corporation (MTC), supplied 1,000 feet of a 121-inch
cured-in-place pipe tube used to rehabilitate a storm water pipe
beneath McGuire Air Force Base in Burlington, New Jersey. The
diameter of this CIPP is one of the largest ever installed.
The third project to receive recognition from Trenchless
Technology was the Valley Forge rehabilitation project. Aegion’s
subsidiary, United Pipeline Systems, Inc., installed a high-density
polyethylene Tite Liner® system in a 30-inch sanitary sewer force
main in Tredyffrin, Pennsylvania. A majority of the project
required installations in Valley Forge National Historic Park. The
project took approximately three months and was completed on time
and on budget with zero safety incidents.
Charles R. Gordon, President and Chief Executive Officer of
Aegion, said, “Aegion companies have received Project of the Year
recognition from Trenchless Technology 28 times since 1993. It is
evident that the efforts of our business development, manufacturing
and operations teams to work with our customers to develop projects
and successfully complete installations are a key to our success.
We are the leader in the trenchless CIPP rehabilitation industry
and are committed to continually improving our technologies and
installation processes to better serve our customers.”
About Aegion (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.®
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, 2017, filed with the Securities and
Exchange Commission on March 1, 2018, 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®, Stronger. Safer. Infrastructure.®, Insituform®,
Tite Liner® and InsituMain® are the registered
trademarks of Aegion Corporation and its affiliates.
(AEGN-GEN)
For more information, contact: David F. Morris
Executive Vice President and Interim Chief Financial Officer
636-530-8000
Aegion (NASDAQ:AEGN)
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