Insituform Wins $7.7 Million Sewer Contract in Hartford, Connecticut
CHESTERFIELD, MO, June 3, 2009 – Insituform Technologies, Inc. has been awarded an additional $7.7 million sewer contract from the Metropolitan District Commission (MDC) in Hartford, Connecticut for the rehabilitation of over 200,000 linear feet of 6- to 30-inch sewer lines using Insituform® cured-in-place pipe (CIPP). This award is in addition to the $10.3 million contract MDC signed with Insituform last November.
Crews will install Insituform® CIPP using the air inversion steam cure (AISC) method, which uses air to invert the CIPP tube and then steam to cure the resin. Using the AISC method can reduce the amount of water used during installation by nearly 95 percent. The project is expected to begin in June 2009 and be completed by December 2010.
“We are pleased to continue our relationship with MDC with this additional project. Our experienced crews and management team are dedicated to exceeding MDC’s expectations on every project,” said Jim Newkirk, General Manager for Insituform’s East Region.
Insituform® CIPP is a jointless pipe-within-a-pipe used to rehabilitate pipes ranging in diameter from 6 to 96 inches. Suitable for repair of sanitary sewers, storm sewers and force mains, Insituform® CIPP extends the life of existing infrastructure by approximately 100 years. Rehabilitating sewer pipelines with Insituform® CIPP reduces infiltration, restores structural integrity and increases flow capacity without disruption to communities, typically at a lower cost than dig and replace solutions.
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, 2008, as filed with the Securities and Exchange Commission on March 2, 2009, 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® 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