ST. LOUIS--(BUSINESS WIRE)--Aegion Corporation (“Aegion” or the “Company”) (Nasdaq Global Select Market: AEGN) today announced that its subsidiary, Insituform Pacific Pty. Limited (“Insituform-Australia”), has been awarded a five-year term contract for Barwon Water in Victoria, Australia. Although Insituform-Australia has previously worked for other clients in Victoria, this is Insituform-Australia’s first contract award from Barwon Water. Insituform-Australia expects to complete approximately $24.7 million (USD) of work throughout the contract’s five-year term.
In 2013, Barwon Water implemented its five-year Water Plan, which is focused on efficient delivery of quality services. In order to increase the operational life of its pipelines, maintain an acceptable risk of asset failure and fulfill its obligation to customers to provide reliable services, the Water Plan forecasts capital expenditures of $305 million (USD) between 2013 and 2018. Barwon Water indicates that the relining of wastewater pipelines is one of its top five capital expenditure items. Barwon Water is Victoria’s largest regional urban water corporation and provides water and wastewater services to more than 295,000 permanent residents. Over the summer holiday period, its service population grows to over 500,000 people.
Beginning in January 2014, Insituform-Australia will oversee the cleaning, inspection and installation of Insituform iPlus® Infusion cured-in-place pipe (CIPP) product in wastewater pipelines ranging from 6 inches to 9 inches in diameter. Job site locations will be throughout Barwon Water’s 5,000 square miles of coverage. Insituform-Australia expects to add approximately 16 new positions in addition to the indirect employment of subcontractors and suppliers in the area.
Daniel Gamboa, General Manager of Insituform-Australia, said, “We are extremely pleased to have secured this contract and to be working with Barwon Water. Initial meetings have shown that Barwon Water is very proactive and experienced in the area of pipeline rehabilitation. Both Barwon Water and Insituform-Australia are committed to safety and quality as well as to working in collaboration to deliver excellent results. This contract allows Insituform-Australia to establish operations in the Melbourne region and pursue opportunities to continue our growth strategy along the Australian east coast. We look forward to this contract being the foundation of significant growth for Insituform-Australia in the Victorian market.”
Throughout the five-year term contract, Insituform-Australia will maintain its high standard of community relations. This includes providing a community contact number, establishing and maintaining customer contact details, notifications for all works and daily notifications to Barwon Water’s contracts team and customer call center.
About Aegion Corporation
Aegion Corporation is a global leader in infrastructure protection and maintenance, providing proprietary technologies and services: (i) to protect against the corrosion of industrial pipelines; (ii) to rehabilitate and strengthen water, wastewater, energy and mining piping systems and buildings, bridges, tunnels and waterfront structures; and (iii) to utilize integrated professional services in engineering, procurement, construction, maintenance and turnaround services for a broad range of energy related industries. More information about Aegion can be found on our internet site at www.aegion.com.
About Insituform Pacific Pty. Limited
Insituform Pacific Pty. Limited, a subsidiary of Aegion Corporation, is part of the world leading Insituform group of trenchless rehabilitation companies. For over forty years, Insituform has been a global leader in the development and installation of proprietary technologies and services for rehabilitating sewer, water and other underground piping systems without digging or disruption. More information about Insituform Pacific Pty. Limited can be found at www.insituform.com.
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, 2012, as filed with the Securities and Exchange Commission on February 27, 2013, and in the Company’s subsequent quarterly reports on Form 10-Q. In light of these risks, uncertainties and assumptions, the forward-looking events may not occur. In addition, the Company’s actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, the Company does not assume a duty to update forward-looking statements, 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.
Aegion®, Insituform®, iPlus® and the Aegion® logo are the registered trademarks of Aegion Corporation and its affiliates.