Aegion Corporation Awarded an $8 Million Municipal Contract from the City of Montgomery, Alabama
By Business Wire News
Aegion Corporation (“Aegion” or the “Company”) (Nasdaq Global Select Market: AEGN) today announced the award of an $8 million contract from the City of Montgomery, Alabama for its Infrastructure Solutions platform. This project is the second and final phase of a wastewater pipeline rehabilitation project located in the Econchate Basin, a collection system that drains into the Econchate Wastewater Treatment Plant.
The first phase of the project, also awarded to Aegion, was completed in April 2016 and included the installation of 10,000 feet of Insituform® CIPP and iPlus® Composite in 48-inch to 54-inch diameter pipelines. This second phase is expected to take 15 months to complete with work likely to begin later this month.
Company crews will install Insituform® CIPP and iPlus® Composite to rehabilitate over 20,000 feet of 8-inch to 48-inch diameter pipelines. The project also involves managing the rehabilitation of 34 manholes and the construction of over two miles of all-weather access road in the wetland area.
Frank Firsching, President of Aegion’s Infrastructure Solutions platform, said, “We have over 25 years of experience working for the City of Montgomery. We are pleased to have been prequalified for and awarded this latest project and commend the City of Montgomery for their proactive approach to addressing its collection system in the Econchate Basin.”
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. Aegion’s business activities include manufacturing, distribution, maintenance, construction, installation, coating and insulation, cathodic protection, research and development and licensing. More information about Aegion can be found on our internet site at www.aegion.com.
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®, Insituform® and the Aegion® logo are the registered trademarks of Aegion Corporation and its affiliates.
David F. Morris, 636-530-8000
Executive Vice President and Chief Administrative Officer