Insituform Technologies Wins $4.4M Insituform Blue® Project to Rehabilitate Water Lines in Victoria, British Columbia
Over 14,000 feet of water distribution mains to be rehabilitated with PuraGuard™
CHESTERFIELD,
MO, December 1, 2008 – Insituform Technologies, Inc. (Nasdaq Global
Select Market: INSU), through its Canadian subsidiary Insituform
Technologies Limited, has been awarded a $4.4 million contract from the
City of Victoria in British Columbia, Canada. Insituform will use its
PuraGuard™ technology, a close-fit polyethylene solution for water pipe
renewal, to rehabilitate 14,750 feet of high-pressure steel pipes,
ranging in diameter from 8” to 24”.
PuraGuard™ is part of the
company’s Insituform Blue® line of products for the trenchless
rehabilitation of potable water lines. Unlike traditional open cut
methods of renewing water pipes, trenchless techniques repair pipelines
with little to no digging, disruption or environmental impact.
The
City of Victoria has a history of promoting environmentally sound
practices. In addition to Insituform’s minimally disruptive and
environmentally friendly method of rehabilitating transmission mains,
the city has also retained a professional arborist to help protect the
trees on the job site.
Insituform will rehabilitate an integral
part of the city’s water transmission system, which is located mostly
in residential areas, requiring increased coordination to maintain
service to the city and to communicate with residents. “Insituform has
rehabilitated sewer lines for the City of Victoria in the past, and we
look forward to continuing our productive partnership in the future. We
are confident that our customer service and superior water main
rehabilitation methods will meet the high standards the City of
Victoria has set for us,” said Ken Foster, Vice President, Canada.
Insituform
will complete the work in Victoria in 26 installations, rehabilitating
13,900 feet of 20”, 550 feet of 24” and 300 feet of 8” water lines.
Work began in late November and is expected to be completed in August
2009.
About Insituform
Insituform Technologies, Inc.
is a leading worldwide provider of proprietary technologies and
services for rehabilitating sewer, water and other underground piping
systems without digging or disruption. 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, 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:
Insituform Technologies, Inc.
David A. Martin
Vice President and Chief Financial Officer
636-530-8000
Insituform®, the Insituform® logo, Clean water for the world®,
Insituform Blue® and PuraGuard™ are the registered and unregistered
trademarks of Insituform Technologies, Inc. and its affiliates.
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