City of Atlanta Awards Insituform Two Contracts Totaling $15.9 Million to Rehabilitate Sewer Pipes
SAINT LOUIS, MO, December 7, 2009 – The City of Atlanta’s Department of Watershed Management has awarded Insituform Technologies, Inc. (Nasdaq Global Select Market: INSU) two contracts with a combined value of $15.9 million for the rehabilitation of sewer pipes in Atlanta neighborhoods as part of the City’s Clean Water Atlanta Program.
Jim Newkirk, General Manager for Insituform’s East Region, noted, “Insituform has rehabilitated approximately 150 miles of sewer pipelines for the City of Atlanta since 1989. We have dedicated resources to the City in order to help them meet the demands of its Clean Water Atlanta Program.” As the general contractor on this project, Insituform will utilize local minority contractors for various aspects of this project.
The project will rehabilitate over 65,000 feet of small diameter sanitary sewers across the Atlanta area. Work on this project is expected to begin in January 2010 and take approximately fifteen months to complete.
"The Department of Watershed is tasked through the Clean Water Atlanta Program to rehabilitate hundreds of miles of sewer. These two contracts play an integral role in helping the City of Atlanta meet its goals and control the expenses of the system overhaul so those costs are not passed on to Atlanta residents,” said Newkirk. “We are prepared to proceed immediately and look forward to working with the City on these contracts."
Referring to the City’s efforts to comply with U.S. EPA Consent Decree mandates for Atlanta’s water systems, Mayor Shirley Franklin of Atlanta recently said, "Hundreds of dedicated employees and experienced professionals [work] to ensure that the City’s Clean Water Program meets federal standards and that the City fulfills its obligations to repair and upgrade our century old water/sewer system. I am extraordinarily proud of the City’s commitment to Clean Water and to its management of this complex $4 billion program.”
The Insituform® CIPP process is Insituform’s core technology and an affordable solution used to reduce infiltration, restore structural integrity and increase flow capacity.
For photography, an interview, or more information on the CIPP process and how it works, please contact Aura Joyce at 636-530-8775 or ajoyce@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, 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