Insituform Technologies, Inc. (Nasdaq Global Select Market: INSU)
announced today that it has been awarded a $17.9 million contract for
the Sacramento Area Sewer District. Work on the project, which is
scheduled to begin in June, 2009, is expected to be completed in
September, 2010. Insituform plans to install nearly 45,000 feet of
medium- and large-diameter Insituform® CIPP under this
contract award.
"We are pleased to work with the Sacramento Area Sewer District as they
rehabilitate their underground infrastructure. The experience of our
project management team is ideally suited to complete large-scale
projects like this and we will work directly with our customer to ensure
that their requirements and expectations are met,” said Joe Lane,
Insituform West Region General Manager. He continued, "We have been
working in the Sacramento area for over ten years and look forward to
additional work as the City and County continue to rehabilitate their
systems.”
Insituform® CIPP can be manufactured with recycled materials
and is installed without digging which creates little to no disruption
to communities and significantly reduces the carbon footprint of the job
site. Insituform® CIPP, a jointless pipe-within-a-pipe,
rehabilitates pipes, reduces infiltration, restores structural integrity
and increases flow capacity. The Insituform® CIPP process is
suited for sewer repair and is used to rehabilitate sanitary sewers,
storm sewers and force mains. Insituform has rehabilitated over 17,000
miles of CIPP since first inventing the technology in 1971.
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,
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® and the Insituform® logo are the registered and unregistered
trademarks of Insituform Technologies, Inc. and its affiliates.
