Aegion Corporation (AEGN - Free Report) declared that its unit, Insituform Technologies, LLC, has received a three-year term contract from the City of Dallas, Tex., worth around $5.6 million. As per the contract, Insituform will provide a high-quality rehabilitation solution throughout the City of Dallas from Jan 2013 to Dec 2015.
Insituform, a global leader in the development and installation of proprietary technologies and services for rehabilitating sewer, water and other underground piping systems, will use its Cured-in-Place Pipe (CIPP) technology to perform the wastewater pipeline rehabilitation.
Insituform will execute crucial functions supporting the installation of CIPP with the help of some minority and woman owned businesses. The company’s management and operations teams will work together to fulfill the requirements of the agreement.
Insituform, which has prior experience of working with the City of Dallas, was recently awarded a contract from the Metropolitan District to install over 10 miles of CIPP in small and medium diameter wastewater pipelines. Insituform has already received more than $30 million in CIPP contracts and has installed around 140 miles of wastewater pipelines in the region.
Chesterfield, Mo.-based Aegion is a diversified building and construction company which provides infrastructure protection, proprietary technologies and services. Aegion also offers services related to the rehabilitation and improvement of sewer, water, energy and mining piping systems.
Aegion lowered its first-quarter 2013 earnings per share guidance to the range of 4 cents to 8 cents, citing project delays due to adverse weather conditions as well as postponement of several contracts. However, the company reaffirmed its full-year 2013 guidance of $1.60 to $1.80 per share.
Aegion currently retains a Zacks Rank #3 (Hold).
James Hardie Industries plc , Masco Corporation (MAS - Free Report) and Trex Co. Inc. (TREX - Free Report) also belong to the building and construction industry. Each of them holds a Zacks Rank #2 (Buy).