
[Insituform Technologies Awarded Contract Valued at Up to $9.5 Million from Orange County, Florida
Saint Louis, MO, March 30, 2011– Insituform Technologies, Inc. (Nasdaq Global Select Market: INSU) announced today that it has been awarded its first stormwater pipeline rehabilitation contract from the Board of County Commissioners, Orange County, Florida (Orange County). The contract’s first year value is approximately $3.2 million and may be extended for two additional years for up to $9.5 million over the three-year period.
Insituform anticipates it will rehabilitate over 70,000 feet of stormwater pipelines using its Insituform® cured-in-place pipe (CIPP) and iPlus® Composite products. Many of the rehabilitated pipelines are located around the downtown Orlando and Orlando Convention Center areas. Disruption to traffic and pedestrians, including the significant number of tourists who visit Orlando each year, is expected to be minimal.
Jeffrey J. Kowal, Insituform’s General Manager for the East Region, said, “Insituform has been installing CIPP for forty years and is fully-prepared to successfully complete this project. Our experienced project management team will be focused on not only meeting the expectations of Orange County over the next three years but on increasing the visibility of CIPP in Florida as well.”
Work on the project is expected to begin in April 2011.
About Insituform Technologies, Inc.
Insituform Technologies, Inc. is a global leader in pipeline protection. Insituform provides proprietary technologies and services for rehabilitating sewer, water, energy and mining piping systems and the corrosion protection of industrial pipelines. More information about the Company 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 a 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®, iPlus® Composite and the Insituform® logo are the registered trademarks of Insituform Technologies, Inc. and its affiliates.
For more information, contact:
David F. Morris
Senior Vice President and Chief Administrative Officer
636-530-8000