ST. LOUIS--Insituform Technologies; Inc. (Nasdaq Global Select Market: INSU) announced today that its Singapore subsidiary; Insitu Envirotech (S.E. Asia) Pte Ltd. (“Insituform”); has been awarded four contracts totaling US $18.5 million.
Under the contracts; Insituform will perform work for the Public Utility Board (PUB); Singapore’s national water agency; and rehabilitate approximately 50 miles of sewer pipeline though the use of the Insituform® cured-in-place pipe (CIPP) process. Insituform also announced it has received an additional US $1.4 million in orders to supply CIPP tube to third parties in Singapore.
For the year; Insituform has received approximately $3.1 million in third-party; CIPP tube sale orders.
In 2009; PUB; Singapore’s publicly-owned water utility; began work on a multi-year US $295 million rehabilitation program. This rehabilitation program is expected to be completed in 2014 and will upgrade over 700 miles of public sewers and 30 miles of pumping mains. PUB serves a population of over 4.5 million Singaporeans. These contracts are part of PUB’s ongoing rehabilitation program.
“Insituform looks forward to continuing its work with PUB and to the opportunity to bid on additional work as PUB continues its ongoing rehabilitation program. In addition; we continue to provide enhanced services to the market in Singapore by supplying local rehabilitation contractors with our CIPP tube. We expect to continue this offering by supplying CIPP tubes for PUB projects for many years to come; ” said Daniel Cowan; Insituform’s Vice-President; Asia-Pacific.
The iPlus Infusion® system for small-diameter wastewater pipelines and the iPlus® Composite system for medium- to large-diameter wastewater pipelines will be used for the first time in Singapore on this project. These next-generation CIPP solutions provide PUB with an environmentally beneficial solution. Insituform plans to utilize its air invert steam cure (AISC) technology to complete this project; which will reduce water and energy usage on the job site by approximately 95 percent.; Insituform expects this project will create 45 new positions including laborers; field management and administrative personnel in Singapore. In addition; locally-owned subcontractors will be used to complete work on this project; which is expected to begin in March 2010 and be completed by December 2011.
“Singapore’s PUB is one of the most progressive water utilities in the world. This project; which is Phase IV in its overall sewer rehabilitation program; allows Insituform to introduce its next-generation solutions to Asia. We remain committed to partnering with PUB to ensure it can continue to meet its customer demands. By utilizing our innovative technology; PUB will be able to upgrade its system with little disruption to the people of Singapore; ” Cowan continued.;
For photography; an interview; or more information on the CIPP process and how it works; please contact Aura Joyce at 636-530-8775
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 http://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®; iPlus Infusion®; iPlus® Composite and the Insituform® logo are the registered trademarks of Insituform Technologies; Inc. and its affiliates.
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