SAINT LOUIS, March 08, 2018 (GLOBE NEWSWIRE) -- Aegion Corporation ("Aegion" or the "Company") (Nasdaq:AEGN) announced today that Trenchless Technology magazine will recognize three Aegion rehabilitation projects on March 26, 2018 at the annual No-Dig Show, the largest trenchless technology conference in North America. Aegion's municipal cured-in-place pipe (CIPP) business received top honors in the Rehabilitation category; its third-party sales business supplied the CIPP product to the Runner-Up project; and a project using the Tite Liner® system received an Honorable Mention.
For the top honors in the Rehabilitation category, Insituform Technologies, Inc., a subsidiary of Aegion, rehabilitated 5,700 feet of 48-inch prestressed concrete cylinder pressure pipe in West Palm Beach, Florida. This project, one of the largest pressure pipe rehabilitation projects to date, was a new achievement for the InsituMain® CIPP system at a larger diameter, length and pressure. The installation required significant coordination between the owner, several subcontractors, residents and local businesses, including high-end condos and homes and a private country club and golf course. The entire project was completed in seven weeks.
Aegion's third-party product sales business, Manufactured Technologies Corporation (MTC), supplied 1,000 feet of a 121-inch cured-in-place pipe tube used to rehabilitate a storm water pipe beneath McGuire Air Force Base in Burlington, New Jersey. The diameter of this CIPP is one of the largest ever installed.
The third project to receive recognition from Trenchless Technology was the Valley Forge rehabilitation project. Aegion's subsidiary, United Pipeline Systems, Inc., installed a high-density polyethylene Tite Liner® system in a 30-inch sanitary sewer force main in Tredyffrin, Pennsylvania. A majority of the project required installations in Valley Forge National Historic Park. The project took approximately three months and was completed on time and on budget with zero safety incidents.
Charles R. Gordon, President and Chief Executive Officer of Aegion, said, "Aegion companies have received Project of the Year recognition from Trenchless Technology 28 times since 1993. It is evident that the efforts of our business development, manufacturing and operations teams to work with our customers to develop projects and successfully complete installations are a key to our success. We are the leader in the trenchless CIPP rehabilitation industry and are committed to continually improving our technologies and installation processes to better serve our customers."
About Aegion (NASDAQ:AEGN)
Aegion combines innovative technologies with market-leading expertise to maintain, rehabilitate and strengthen infrastructure around the world. Since 1971, the Company has played a pioneering role in finding transformational solutions to rehabilitate aging infrastructure, primarily pipelines in the wastewater, water, energy, mining and refining industries. Aegion also maintains the efficient operation of refineries and other industrial facilities. Aegion is committed to Stronger. Safer. Infrastructure.®
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Aegion's forward-looking statements in this news release represent its beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to Aegion 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 Aegion's Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission on March 1, 2018, and in subsequently filed documents. In light of these risks, uncertainties and assumptions, the forward-looking events may not occur. In addition, Aegion's actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, Aegion 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 Aegion from time to time in Aegion's 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 Aegion in this news release are qualified by these cautionary statements.
Aegion®, Stronger. Safer. Infrastructure.®, Insituform®, Tite Liner® and InsituMain® are the registered trademarks of Aegion Corporation and its affiliates.
For more information, contact:
David F. Morris
Executive Vice President and Interim Chief Financial Officer