Aegion Corp. Receives $12.9 Million Pipe Rehabilitation Contract in Hong Kong

Aegion Corp. (Nasdaq Global Select Market: AEGN) recently announced that its subsidiary, Fyfe Hong Kong Ltd., has received a three-year contract valued at $12.9 million (USD) for the rehabilitation of potable steel water pipelines, ranging from 47 to 94 in. in diameter, located in the New Territories of Hong Kong for the Government of Hong Kong Water Supplies Department.

Fyfe Hong Kong will install its patented Tyfo Fibrwrap system, a fiber-reinforced polymer material that repairs, strengthens and retrofits large-diameter pipelines. Fibrwrap is a highly engineered approach that utilizes advanced technology for rehabilitating pipelines. Fyfe has been installing its Tyfo Fibrwrap system in Hong Kong for more than seven years and is the leading provider of fiber reinforced polymer systems in Hong Kong.

Dr. Jinsong Wang, Vice President and General Manager for Fyfe Hong Kong, said, “Fyfe Hong Kong is pleased to have been awarded this project and will look for ways to provide additional value to this project by utilizing other products and services of the Aegion family of companies. We believe that Fyfe’s engineering expertise, superior products and sophisticated project management capabilities will help ensure the successful completion of this project.

Sim Moh Wee, Senior Vice President and General Manager of Fyfe Asia, said, “This project has been awarded to Fyfe Hong Kong after a strenuous selection process. Many options for rehabilitation were considered and the Tyfo Fibrwrap system was selected due to system reliability and its flexible installation processes. We are pleased to continue to work with the Hong Kong Water Supplies Department and look forward to increasing opportunities in the future to demonstrate Fyfe’s advanced design capabilities and the structural superiority of the Tyfo Fibrwrap technology.”

This project, which will structurally rehabilitate 40-year old water mains that currently transport the majority of water from China into Hong Kong, is expected to begin during the third quarter of 2012 and be completed in 2015.

Aegion Corp. acquired Fyfe Asia, which includes operations in Singapore, Hong Kong, Malaysia, Japan, Indonesia and Brunei, in April 2012.
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