CHESTERFIELD, Mo. - (Business Wire) 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.
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.
Insituform Technologies, Inc.
David A. Martin, Vice President and
Chief Financial Officer
636-530-8000
