We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Aegion (AEGN) Unit Wins Contract Worth $12.4M in Chicago
Read MoreHide Full Article
Insituform Technologies, LLC – a unit of Aegion Corporation – has secured a contract from the Metropolitan Water Reclamation District of Greater Chicago worth $12.4 million. Per the contract, Insituform will provide rehabilitation work with Cured-in-Place Pipe (CIPP).
Notably, Insituform is a global leader in the development and installation of proprietary technologies and services for repairing sewer, water and other underground piping systems. So far, Insituform has installed over 19,000 miles of CIPP worldwide.
According to the agreement, Insituform will install CIPP to rehabilitate approximately 14,000 feet of 60-inch wastewater pipelines in the Village of Tinley Park, the Village of Oak Forest, Cook County Forest Reserve and unincorporated Cook County.
Upon completion of the project, the hydraulic and structural integrity of the pipelines will be restored and inflow and infiltration will also be reduced. These rehabilitated pipelines will provide service for many years. Project installation is expected to begin in late 2016 and is slated to complete by the end of first-quarter 2018.
In April, Aegion had won a $6.8 million municipal contract in the city of West Palm Beach, FL, to use the Insituform Insitumain product to rehabilitate roughly 6,000 feet of 48-inch diameter forced main sewer pipeline. It will improve the CIPP product in the pressure pipe market.
The company’s outlook for Infrastructure Solutions' Insituform cured-in-place pipe, or CIPP, technologies in the major North-America water and wastewater pipeline market is on track for another good year. Moreover, Aegion is poised to benefit from stable conditions across its end markets, realize cost-reduction targets and improve execution to deliver full-year 2016 adjusted earnings per share in line with 2015 levels. Focus on restructuring activities, rising order pattern & backlog, acquisitions and investment in the midstream market will also drive growth.
Aegion currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector include Gibraltar Industries, Inc. (ROCK - Free Report) , Owens Corning (OC - Free Report) and Caesarstone Ltd. (CSTE - Free Report) . While Gibraltar Industries and Owens Corning sport a Zacks Rank #1 (Strong Buy), Caesarstone holds a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Aegion (AEGN) Unit Wins Contract Worth $12.4M in Chicago
Insituform Technologies, LLC – a unit of Aegion Corporation – has secured a contract from the Metropolitan Water Reclamation District of Greater Chicago worth $12.4 million. Per the contract, Insituform will provide rehabilitation work with Cured-in-Place Pipe (CIPP).
Notably, Insituform is a global leader in the development and installation of proprietary technologies and services for repairing sewer, water and other underground piping systems. So far, Insituform has installed over 19,000 miles of CIPP worldwide.
According to the agreement, Insituform will install CIPP to rehabilitate approximately 14,000 feet of 60-inch wastewater pipelines in the Village of Tinley Park, the Village of Oak Forest, Cook County Forest Reserve and unincorporated Cook County.
AEGION CORP Price
AEGION CORP Price | AEGION CORP Quote
Upon completion of the project, the hydraulic and structural integrity of the pipelines will be restored and inflow and infiltration will also be reduced. These rehabilitated pipelines will provide service for many years. Project installation is expected to begin in late 2016 and is slated to complete by the end of first-quarter 2018.
In April, Aegion had won a $6.8 million municipal contract in the city of West Palm Beach, FL, to use the Insituform Insitumain product to rehabilitate roughly 6,000 feet of 48-inch diameter forced main sewer pipeline. It will improve the CIPP product in the pressure pipe market.
The company’s outlook for Infrastructure Solutions' Insituform cured-in-place pipe, or CIPP, technologies in the major North-America water and wastewater pipeline market is on track for another good year. Moreover, Aegion is poised to benefit from stable conditions across its end markets, realize cost-reduction targets and improve execution to deliver full-year 2016 adjusted earnings per share in line with 2015 levels. Focus on restructuring activities, rising order pattern & backlog, acquisitions and investment in the midstream market will also drive growth.
Aegion currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector include Gibraltar Industries, Inc. (ROCK - Free Report) , Owens Corning (OC - Free Report) and Caesarstone Ltd. (CSTE - Free Report) . While Gibraltar Industries and Owens Corning sport a Zacks Rank #1 (Strong Buy), Caesarstone holds a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>