The Philadelphia Water Department ("PWD”) has awarded Insituform
Technologies, Inc. (Nasdaq Global Select Market: INSU) a $6.0 million
contract to rehabilitate approximately 10,000 feet of sanitary sewer
pipes that run beneath the urban meadows of one of Philadelphia’s
largest parks. Insituform’s leading technology, cured-in-place pipe
(CIPP), will allow the company to do this work and protect the park from
digging and disruption.
The project will rehabilitate 12-inch to 60-inch diameter sanitary
sewers that primarily lie underneath Tacony Creek Park, which includes
302 acres of meadows, wetlands, green space and 2.5 miles of creekside
trails inside the Olney Neighborhood on the north side of Philadelphia.
Work on this project, with pipes estimated to be over 100-years old,
will begin in November 2009 and take approximately one year to complete.
Philadelphia has a long-standing tradition of being a leader in water
technologies. In fact, Philadelphia created the nation’s first water
system in the 19th century. Jeff Twardzik, Assistant
Engineering Supervisor for the Philadelphia Water Department, said,
"This process allows us to stay at the forefront of technology and
completely rehabilitate the sewer without disrupting the local ecosystem
and park areas. The project will also be running concurrently with a
stream restoration project and a combined sewer overflow project in the
same area. The Insituform process allows us to work alongside these
important projects without interruption. PWD is excited to be working
with Insituform again.”
The Insituform® CIPP process is Insituform’s core technology and an
affordable solution used to reduce infiltration, restore structural
integrity and increase flow capacity.
A pre-qualified contractor, Insituform has worked with Philadelphia
Water on various projects for over twenty years. As the general
contractor on this project, Insituform will utilize local minority
contractors for various aspects of this project.
For photography, an interview, or more information on the CIPP process
and how it works, please contact Aura Joyce at 636-530-8775 or ajoyce@insituform.com.
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.
