ST. LOUIS, MO (September 12, 2011) -- The City of Calgary, Alberta, Canada, awarded a $5.8 million (US) contract extension to Insituform Technologies Inc. (Nasdaq Global Select Market: INSU) to install cured-in-place pipe (CIPP). In 2010, the City awarded Insituform the first year of this renewable term contract and will have the option to renew this contract for one more year in 2012.
"Insituform has been installing CIPP in Calgary since the mid-1980s and we are pleased to continue to provide high quality pipeline rehabilitation solutions,” said Ken Foster, president, Insituform Technologies Limited, Canada. "Our crews remain committed to providing this community with renewed pipelines with minimal disruption."
Over the next 12 months, Insituform expects to complete approximately 90,000 feet of CIPP rehabilitation on wastewater pipelines ranging from 8 inches to 48 inches in diameter. It is expected that Insituform’s proprietary air inversion steam cure installation method will be used throughout the project. This installation method reduces energy and water usage by approximately 95%.
Insituform Technologies Inc. provides proprietary technologies and services for the corrosion protection of industrial pipelines and the rehabilitation and strengthening of sewer, water, energy and mining piping systems, buildings, bridges and tunnels and waterfront structures.