Insituform Technologies Receives Contracts Worth Over $21 Million

Insituform Technologies Inc. (Nasdaq Global Select Market: INSU) has announced that it has been awarded contracts exceeding $21 million (USD) for jobs in Canada and the United States.

Insituform received a $12.2 million (USD) contract with the City of Montreal, Quebec, Canada to rehabilitate sewer pipelines. The completion of this project will help the City meet the goals of its ongoing program of infrastructure improvements. Insituform expects to rehabilitate over 9 miles of wastewater pipelines ranging from 10 to 42 in. in diameter. A significant portion of the project includes the rehabilitation of egg-shaped pipelines. Forty years ago, Insituform performed the first installation of cured-in-place pipe (CIPP) in the United Kingdom in an egg-shaped pipeline. Since then, Insituform, the developer of CIPP, has installed CIPP in more than 19,000 miles of pipelines around the world.

Ken Foster, president of Insituform Technologies in Canada, said “Winning this important project validates our decision to open an office in Montreal in June 2010 and positions us to meet the increased demands for both sewer and water pipeline rehabilitation in Quebec. This latest contract award increases our ability to provide services throughout Eastern Canada as well as creates new jobs in Montreal.”

Work on this project is expected to be completed by the end of 2011.

Insituform also has been awarded its first stormwater pipeline rehabilitation contract from the Board of County Commissioners, Orange County, Fla. The contract’s first year value is approximately $3.2 million and may be extended for two additional years for up to $9.5 million over the three-year period.

Insituform anticipates it will rehabilitate over 70,000 ft of stormwater pipelines using its Insituform CIPP and iPlus Composite products. Many of the rehabilitated pipelines are located around the downtown Orlando and Orlando Convention Center areas. Disruption to traffic and pedestrians, including the significant number of tourists who visit Orlando each year, is expected to be minimal.

Jeffrey J. Kowal, Insituform general manager for the East Region, said, “Insituform has been installing CIPP for 40 years and is fully-prepared to successfully complete this project. Our experienced project management team will be focused on not only meeting the expectations of Orange County over the next three years but on increasing the visibility of CIPP in Florida as well.”

Work on the project is expected to begin in April 2011.

 

About Insituform Technologies Inc.

Insituform Technologies Inc. is a global leader in pipeline protection. Insituform provides proprietary technologies and services for rehabilitating sewer, water, energy and mining piping systems and the corrosion protection of industrial pipelines.