Insituform Technologies, Inc. (Nasdaq GS: INSU) announced that it has been awarded a $4.25 million contract to rehabilitate a century-old water main line running beneath Madison Avenue in New York City.
Under the terms of the contract, Insituform Blue, the company’s potable water business, will rehabilitate 10,000 feet of 48-inch diameter water line using a high-density polyethylene (HDPE) product that will create a new pipe-within-a-pipe. The company’s technology and processes make it possible to rehabilitate the water main line without digging an open trench the entire length of the line.
"Insituform Blue provides a smart, effective solution with the least disruption and environmental impact on one of the busiest streets in the world," said Gary Wiegmann, Managing Director of Insituform Blue. "Older rehabilitation technologies would require a trench 37 blocks long to allow replacement of the old pipeline, disrupting utilities, traffic and businesses, at great cost to the commerce and taxpayers of the City of New York."
The work is projected to occur primarily on weekends beginning in June 2008.
About Insituform Technologies Inc.
Insituform Technologies Inc. is a leading worldwide provider of proprietary technologies and services for rehabilitating sewer, water and other underground piping systems without digging or disruption.
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