United Pipeline de Mexico Awarded Additional Pemex Pipeline Project Valued at $13.9 Million

October 15, 2009 12:51 PM EDT

ST. LOUIS--(BUSINESS WIRE)-- Insituform Technologies, Inc. (NASDAQ Global Select Market: INSU) announced today that the Mexican national oil and gas company Petroleos Mexicanos ("Pemex") has awarded an additional $13.9 million contract to United Pipeline de Mexico, S.A. de C.V. ("UPM"), Insituform's Mexican joint venture. This contract complements Insituform's award of a $12.4 million pipeline project for Pemex which was announced in September 2009.

As with the initial contract announced in September, it is expected that Insituform will utilize its subsidiaries to provide additional services required for this project. Corrpro Companies, Inc. will provide installation of a cathodic protection system and The Bayou Companies. Inc. will provide prefabrication services for skid-mounted equipment. Dorwin Hawn, Vice President - United Pipeline Systems for Insituform, said, "By contracting this work simultaneously with the associated pipeline construction and rehabilitation activities, this additional project allows Pemex to benefit from improved economies of scale."

The 2009 acquisitions of Corrpro and Bayou have led to a broader product and service offering and augment Insituform's United Pipeline Systems' division. "Pemex has quickly realized the value of Insituform's family of companies in our Energy and Mining division and we're pleased to see this coordinated effort benefits our customer," remarked J. Joseph Burgess, Insituform's President and CEO. Project Management will be handled by UPM from its offices in Poza Rica, Veracruz.

Work on this project, which is expected to begin in November and take approximately 24 months to complete, will be performed simultaneously with the associated pipeline infrastructure work awarded in September. This project includes building and connecting pipelines and associated infrastructure to tie in the well production and process oil produced in various districts of Mexico's Chicontepec oil region.

About United Pipeline de Mexico

UPM is a joint venture between United Pipeline Systems, a division of Insituform, and Miller Pipeline de Mexico, a pipeline and infrastructure construction company serving the natural gas, oil, water and telecommunication markets of Mexico. UPM offers pipeline construction, protection and rehabilitation services throughout Mexico.

About Bayou Companies

Bayou was acquired by Insituform Technologies, Inc. in February 2009. Bayou is a leading provider of cost-effective solutions to onshore and offshore energy and infrastructure companies primarily in North America and the Gulf of Mexico. Bayou's products and services include internal and external pipeline coating, lining, weighting and insulation. Bayou also provides specialty fabrication and services for offshore deepwater installations, including project management and logistics. More information about Bayou can be found on its internet site at www.bayoucompanies.com.

About Corrpro Companies

Corrpro was acquired by Insituform Technologies, Inc. in March 2009. For over 25 years, Corrpro has been a leading provider of cathodic protection systems and engineering services. As a subsidiary of Insituform Technologies, Inc., Corrpro offers corrosion solutions for every industrial market including pipeline, refinery, above and underground storage tanks, water, wastewater, concrete, infrastructure, offshore, and marine. More information about Corrpro can be found on its internet site at www.corrpro.com.

About Insituform Technologies

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 Insituform 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, 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(R), the Insituform(R) logo, Bayou(TM), the Bayou(TM) logo, Corrpro(R), the Corrpro(R) logo and the United(R) logo are the registered and unregistered trademarks of Insituform Technologies, Inc. and its affiliates.

    Source: Insituform Technologies, Inc.

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