Insituform Technologies, Inc. (Nasdaq Global Select Market: INSU)
announced today that it has been awarded a $9.1 million contract by the
City and County of Honolulu, Hawaii. Upon completion of the project,
nearly 8,000 feet of 8-inch to 30-inch deteriorating sewer pipe, the
majority of which is located under Kalanianaole Highway, will be
cleaned, inspected and rehabilitated with Insituform® CIPP. Insituform
has completed over $30 million in pipeline rehabilitation for Honolulu
since 2005.
For the past three years, the City and County of Honolulu has been
implementing a 10-year capital improvement plan. The City and County
expects to spend approximately $30 million annually on the
rehabilitation and replacement of its water, sewer and stormwater
pipelines.
"The City and County of Honolulu recognizes the need for pipeline
rehabilitation and the benefits of trenchless technology to this
project,” said Joe Lane, General Manager for Insituform’s West Region.
"Compared to traditional dig and replace methods, Insituform® CIPP
allows the City and County to upgrade their system at a lower cost and
with less disruption to citizens and businesses,” Lane continued.
Work on this latest project is expected to begin in September 2009 and
be completed in the first quarter of 2011. The project also includes the
inspection and cleaning of an additional 6,000 feet of sewer pipelines,
the rehabilitation of manholes and the rehabilitation of three inverted
siphons located beneath a water inlet.
Insituform® CIPP essentially provides a new pipe within the existing
pipe. Because Insituform® CIPP is installed using existing manholes, the
project can be completed without digging. Air inversion steam cure
(AISC), which can reduce the amount of water used during installation by
nearly 95 percent, will be used to install most of the CIPP. The
Insituform® CIPP process is an affordable solution to rehabilitate
sanitary sewers, storm sewers and force mains and can reduce
infiltration, restore structural integrity and increase flow capacity.
About Insituform
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 and the Insituform® logo are the registered trademarks of
Insituform Technologies, Inc. and its affiliates.
