Insituform Wins $13 Million Contract in Clark County, Nevada
CHESTERFIELD, MO, February 24, 2009 – Insituform Technologies, Inc. (Nasdaq Global Select Market: INSU) announced today that it was awarded $13 million in sewer pipe rehabilitation work for Nevada’s Clark County Water Reclamation District. The project will rehabilitate approximately 14,000 feet of 36” to 60” large diameter sewer pipe. Work is expected to begin within thirty days and should be completed by March 2010.
“We have provided trenchless rehabilitation solutions for the Clark County Water Reclamation District for several years and are excited to continue our work in this area. I am confident our high-quality product, customer service and methods will ensure a successful project for Insituform and Clark County,” said Joe Lane, General Manager for Insituform West Region. “We'll also continue to work with experienced and qualified subcontractors to efficiently and effectively complete this project,” Lane continued.
Insituform, a pre-qualified contractor with the Clark County Water Reclamation District, will use its Insituform® cured-in-place-pipe (CIPP) technology for this project. The Insituform® CIPP process is an affordable solution to rehabilitate sanitary sewers, storm sewers and force mains and can reduce infiltration, restore structural integrity and increase flow capacity. Insituform® CIPP is a jointless pipe-within-a-pipe with the capability to rehabilitate pipes ranging in diameter from 6- to 96-inches.
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.
Insituform®, the Insituform® logo and Clean water for the world® are the registered trademarks of Insituform Technologies, Inc. and its affiliates.