Corrpro Begins $2.3 Million Project With US Coast Guard in Alaska.CHESTERFIELD, Mo. -- Corrpro Companies, Inc. ("Corrpro"), a subsidiary of Insituform Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Global Select Market: INSU INSU Institut National des Sciences de l'Univers (France) ), announced today that it has begun work on a $2.3 million project for a United States Coast Guard United States Coast Guard U.S. military service that enforces maritime laws. It is under the jurisdiction of the Department of Homeland Security; in wartime it functions as part of the U.S. Navy. The Coast Guard enforces federal laws on the high seas and waters within U.S. ("USCG USCG abbr. United States Coast Guard USCG n abbr (= United States Coast Guard) → Küstenwache der USA ") cargo wharf in Kodiak, Alaska Kodiak (Russian: Кадьяк) is a city on Kodiak Island in Kodiak Island Borough in the U.S. state of Alaska. According to 2005 Census Bureau estimates, the population of the city is 6,273. . The project will protect the steel wharf piles from corrosion and consists of over three hundred 270-pound aluminum anodes and coated steel bond bars. The project will replace an under-performing cathodic protection Cathodic protection (CP) is a technique to control the corrosion of a metal surface by making that surface the cathode of an electrochemical cell. It is a method used to protect metal structures from corrosion. system and includes the demolition of the existing cathodic protection system as well as structural steel and concrete repairs. New structural steel members will be installed to reinforce the existing steel piles. The entire project will be completed over water and underwater in a region which experiences some of the highest tidal fluctuations in the world. Corrpro will work under Jay-Brant General Contractors, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a pre-qualified general contractor for the Coast Guard, to complete this project at the USCG Base, Kodiak, the largest active base in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "Jay-Brant is pleased to be able to expand the services we offer to the USCG by providing cathodic protection on the cargo wharf by virtue of our contractual relationship with Corrpro. We have relied upon the professional expertise provided by Corrpro in meeting our obligations to the USCG," said Chuck Jay, co-owner of Jay-Brant. "We are pleased to work with Jay-Brant as well as the Coast Guard," said Bill Larkin, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Corrpro. "At the conclusion of this project, the Coast Guard will have a fully-functioning cathodic protection system that protects their steel piles from corrosion. Since 2005, Corrpro has received approximately $45 million in revenue from various branches of the United States government, our largest customer." Corrpro anticipates work on the project will be completed by September 2009. About Corrpro Corrpro Companies, Inc. was acquired by Insituform Technologies, Inc. in early 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 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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 Form 10-Q See 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, Corrpro[R] and the Corrpro[R] logo are the registered and unregistered trademarks of Insituform Technologies, Inc. and its affiliates. |
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