Insituform Technologies Receives Contract Award to Provide Corrosion Coating Services on Over 180 Miles of Hydrogen Pipeline
ST. LOUIS, MO, January 31, 2011– Insituform Technologies, Inc. (Nasdaq Global Select Market: INSU) announced today that its subsidiary, The Bayou Companies LLC (“Bayou”), has been awarded a contract with Air Products and Chemicals, Inc., the world’s largest hydrogen producer. Under this contract, Bayou will provide corrosion coating, concrete weight coating, double joint welding and logistic support on over 180 miles of 18-inch steel pipe for use on a new hydrogen pipeline in the Gulf Coast.
It is expected that Bayou will begin work on the project by the end of the first quarter 2011 and continue work on the project through the end of the third quarter 2011. It is expected that the pipeline will be in service in 2012.
Jerry Shea, President of The Bayou Companies, said, "We are pleased to work with Air Products on this significant project. With high-quality coating capabilities, over 280 acres of storage, access to rail, truck and barge loading or unloading and extensive experience in welding, Bayou is committed to the successful completion of this project.”
Bayou has worked on several projects for Air Products since 2007.
For photography, an interview, or more information please contact Aura Joyce at 636-530-8775 or ajoyce@insituform.com.
About Insituform
Insituform Technologies, Inc. is a global leader in pipeline protection. Insituform provides 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, 2009, as filed with the Securities and Exchange Commission on March 1, 2010 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®,
Bayou™, the
Insituform® logo and the
Bayou™ logo are the registered and unregistered trademarks of Insituform Technologies, Inc. and its affiliates.
For more information, contact:
David F. Morris
Senior Vice President and Chief Administrative Officer
636-530-8000