Insituform Technologies, LLC - a unit of
) - has secured a contract from the City of Baltimore, Md. worth
$16 million. As per the deal, Insituform will use CIPP technology
to restore and reconstruct the wastewater pipeline throughout
Insituform, a global leader in the development and installation
of proprietary technologies and services for repairing sewer,
water and other underground piping systems, will install over
170,000 feet of Insituform cured-in-place pipes (CIPPs).
According to the agreement, Insituform will fix the small and
medium diameter CIPP in wastewater pipelines mainly in the
northern and eastern parts of Baltimore city.
However, about 30% of the project, including manhole and lateral
rehabilitation, spot repairs and restoration, will be executed by
minority subcontractors. These local subcontractors are certified
by the Maryland Department of Transportation. The project is
expected to begin in the third quarter of 2013 and will be
complete after 16 months.
Counting the above-mentioned deal, Insituform has received
contracts totaling $46.4 million from Baltimore City since Dec
2012. Recently, it was awarded a contract from the City of
Dallas, Texas, of about $5.6 million to provide high-quality
rehabilitation solution through the installation of CIPP.
Aegion, which competes with
Armstrong World Industries, Inc.
James Hardie Industries plc
) in the building and construction industry, expects to balance
the slow start of 2013 with its strong backlog and robust bid
table supporting opportunities for securing additional projects.
Moreover, the Brinderson acquisition is part of its strategic
efforts to enhance its presence in the US energy market.
Chesterfield, MO-based Aegion is a diversified building and
construction company which provides infrastructure protection,
proprietary technologies and services. It also offers services
related to the rehabilitation and improvement of sewer, water,
energy and mining piping systems.
Aegion currently carries a Zacks Rank #1 (Strong Buy).
AEGION CORP (AEGN): Free Stock Analysis
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