Insituform Technologies, Inc. (Nasdaq Global Select Market: INSU)
announced today that United Pipeline Systems, a division of Insituform,
has been awarded a $10.9 million contract for the supply and
installation of its Tite Liner® solution on mining pipelines for the
Sino Iron Ore project located in Western Australia.
United anticipates work on the project will commence in April 2010 and
be completed by the end of July 2010. United expects to install more
than 18.5 miles of its Tite Liner® solution on a new 32-inch steel
magnetite concentrate pipeline. Tite Liner® is a high-density
polyethylene liner designed to resist the abrasion and corrosion of
slurry pipelines in energy and mining applications.
The Sino Iron Ore project will be one of the world’s largest mines and
the first of its kind in Western Australia once it is operational. The
mine will produce magnetite which, when used to manufacture steel, uses
less carbon dioxide compared with other materials resulting in a more
environmentally friendly manufacturing process.
Dorwin Hawn, Insituform’s Senior Vice President, Energy and Mining said,
"We applaud Sino Iron’s commitment to invest in a long-term solution to
ensure the integrity of its pipelines over time.”
About United Pipeline Systems
United Pipeline Systems is a global leader in providing high-density
polyethylene (HDPE) lining systems for internal pipeline protection.
United has constructed and internally lined more than 13,000 kilometers
(8,000 miles) of pipelines on six continents since 1985. United
developed the Tite Liner® system, which protects steel
pipelines from a variety of chemicals and abrasives through a broad
range of temperatures and pressures. More information about United can
be found at www.unitedpipeline.com.
About Insituform Technologies, Inc.
Insituform Technologies, Inc. is a leading worldwide provider of
proprietary technologies and services for rehabilitating sewer, water,
energy and mining piping systems and the corrosion protection of
industrial pipelines. 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,
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®, United®,
Tite Liner® and
the Insituform® logo are the registered trademarks of Insituform
Technologies, Inc. and/or its affiliates.
