Insituform Technologies Receives Contract Extension Valued at $5.8 Million (US) from Calgary, Alberta
September 12 2011 - 10:27AM
Business Wire
Insituform Technologies, Inc. (Nasdaq Global Select Market:
INSU) announced today that it has been awarded a $5.8 million (US)
contract extension from the City of Calgary, Alberta, Canada. In
2010, the City awarded Insituform the first year of this renewable
term contract and will have the option to renew this contract for
one more year in 2012.
“Insituform has been installing cured-in-place pipe (CIPP) in
Calgary since the mid-1980s and we are pleased to continue to
provide high quality pipeline rehabilitation solutions. Our crews
remain committed to providing this community with renewed pipelines
with minimal disruption,” said Ken Foster, President, Insituform
Technologies Limited, Canada.
Over the next 12 months, Insituform expects to complete
approximately 90,000 feet of CIPP rehabilitation on wastewater
pipelines ranging from 8 inches to 48 inches in diameter. It is
expected that Insituform’s proprietary air inversion steam cure
installation method will be used throughout the project. This
installation method reduces energy and water usage by approximately
95 percent.
About Insituform Technologies, Inc.
Insituform Technologies, Inc. is a global leader in
infrastructure protection. Insituform provides proprietary
technologies and services for the corrosion protection of
industrial pipelines and the rehabilitation and strengthening of
sewer, water, energy and mining piping systems, buildings, bridges
and tunnels and waterfront structures. More information about
Insituform can be found on its internet site at
www.insituform.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, 2010, as filed
with the Securities and Exchange Commission on February 28, 2011
and in our subsequent quarterly reports on Form 10-Q. In light of
these risks, uncertainties and assumptions, the forward-looking
events may not occur. In addition, our actual results may vary
materially from those anticipated, estimated, suggested or
projected. Except as required by law, we do not assume any duty to
update forward-looking statement, 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 periodic 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.
Insituform® and the Insituform® logo are the registered
trademarks of Insituform Technologies, Inc. and its affiliates.
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