Insituform Wins $10.3M CIPP Project in Connecticut
Over 12 months of trenchless sewer rehabilitation work in
Connecticut positions Insituform for area growth
CHESTERFIELD, MO,
November 12, 2008 – Insituform
Technologies, Inc. (Nasdaq Global Select Market: INSU) was awarded a $10.3
million sewer contract in November from the Metropolitan Development Commission
(MDC) for the rehabilitation of 270,000 linear feet of sewer lines using
Insituform® cured-in-place pipe (CIPP). Insituform® CIPP
is a jointless pipe-within-a-pipe that extends the life of existing
infrastructure by 100 years.
Work on the project is slated
to begin in December and will include line diameters ranging from 6” to
30”. The project duration is expected to
last approximately 12 months. The MDC
provides sewer and drinking water
services to the Connecticut municipalities of Bloomfield, East Hartford, Hartford,
Newington, Rocky Hill, West Hartford, Wethersfield and Windsor,
as well as portions of other towns in the region. Over the duration of the project, Insituform
will perform sewer pipe rehabilitation services in all eight municipalities
that comprise the MDC jurisdiction.
“We are excited to again
have the opportunity to work with MDC. We
had a very positive experience working with MDC in 2007, and we hope to
continue this relationship well into the future. We also look forward to developing additional
projects and relationships in this region.” said David Goldwater, Business
Development Manager for Insituform’s Atlantic Region.
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, 2007, as
filed with the Securities and Exchange Commission on March 10, 2008, 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.
For more information, contact:
David A. Martin, Vice President & Chief Financial Officer
636-530-8000
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