Key Developments For Insituform Technologies, Inc.
Insituform Technologies, Inc. (INSU.O) (Nasdaq)
Insituform Technologies, Inc.'s Bayou Companies Completes Acquisition Of Pipe Coating And Insulation Facility Located In Western Canada
Insituform Technologies, Inc. announced that its subsidiary The Bayou Companies, Inc. has completed its CAD2.25 million acquisition of Garneau, Inc`s pipe coating and insulation facility and associated assets located in Camrose, Alberta Canada. The acquisition was effected through Bayou Perma Pipe Canada, Ltd. (BPPC), a joint venture between Bayou and Perma Pipe, Inc. (Perma-Pipe), and will serve as the operating company for Bayou`s Canadian operations.
Insituform Technologies, Inc. Issues Q4 2009 EPS Guidance Above Analysts' Estimates; Narrows FY 2009 EPS Guidance
Insituform Technologies, Inc. announced that for the fourth quarter of 2009, it expects earnings per diluted share (EPS) to be $0.40 to $0.42 leading to fiscal 2009 EPS at $1.02 to $1.04, in line with previous guidance. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.31 for the fourth quarter of 2009.
Insituform Technologies, Inc.'s Mexican Joint Venture Announces $13.9 Million Contract
Insituform Technologies, Inc. announced that the Mexican national oil and gas company Petróleos 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. 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.
MFRI, Inc. And Insituform Technologies, Inc. Announce Joint Acquisition Of Pipe Coating And Insulating Facility In Camrose, Alberta, Canada
MFRI, Inc. announced the formation of a new joint venture, Bayou Perma-Pipe Canada Ltd., a partnership between the Bayou Companies, Inc., (a subsidiary of Insituform Technologies, Inc.) and Perma-Pipe, Inc., (a subsidiary of MFRI, Inc.). Bayou Perma-Pipe Canada Ltd. has reached an agreement with Garneau, Inc. to acquire Garneau's Camrose pipe coating and insulating facilities in Alberta, Canada for CAN$12.25 Million.
Insituform Technologies, Inc. Announces United Pipeline de Mexico $12.4 Million Pipeline Project
Insituform Technologies, Inc. announced that its Mexican joint venture, United Pipeline de Mexico de C.V. (UPM), has been awarded a $12.4 million contract by the Mexican national oil and gas company Petróleos Mexicanos (Pemex). The contract includes the construction, replacement and rehabilitation of approximately 40 kilometers of pipelines in Mexico`s Chicontepec oil region. Insituform`s subsidiaries, Corrpro Companies, Inc. and The Bayou Company, Inc., will provide cathodic protection and field joint coating services for the project.
