Aegion Corporation Awarded $6.9 Million Two-Year Wastewater Pipeline Rehabilitation Contract in Miami-Dade County
Aegion Corporation (NASDAQ:AEGN) today announced that its subsidiary, Insituform Technologies, LLC, has been awarded a two-year term contract valued at $6.9 million from Miami-Dade County in Florida. The contract includes an option for the county to renew for an additional two years on a yearly basis.
Insituform will receive several work releases beginning in late 2019 and expects to rehabilitate more than 26 miles of 8- to 36-inch diameter wastewater pipelines using Insituform cured-in-place pipe (CIPP) throughout the county over the two-year period.
Charles R. Gordon, Aegion's President and CEO, said, "Insituform has held the annual contract for CIPP in Miami-Dade for the past four years and has completed a majority of the CIPP installation work in the area for the past five years. We are pleased to continue to work with the county and remain committed to operational excellence without compromising safety."
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 https://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.
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