Aegion Corporation Awarded $5 Million Contract Extension to Install Tite Liner® System in the Middle East

ST. LOUIS, Sept. 02, 2020 (GLOBE NEWSWIRE) — Aegion Corporation (NASDAQ:AEGN) today announced that United Special Technical Services, LLC (“USTS”), a joint venture between United Pipeline Systems, Inc., a subsidiary of Aegion (“United”), and Special Technical Services LLC (“STS”) of Oman, has been awarded a contract extension valued at $5 million for a customer in the Middle East.

USTS was awarded a contract in 2018 for the installation of more than 700 km of United’s Tite Liner^® system, a high-density polyethylene (HDPE) liner, to rehabilitate and protect carbon steel pipelines from internal corrosion. USTS was recently awarded an extension to install an additional 400 km of HDPE liner over the next 12 to 18 months.

Charles R. Gordon, Aegion’s President and Chief Executive Officer, said, “We are pleased with this sizable contract extension and strong partnerships in the region. USTS continues to expand its presence in the Middle East market through the proven success of the Tite Liner^® system as a low cost, low maintenance and effective solution.”

The expanded work scope is expected to begin in the fourth quarter of 2020 and conclude in 2022.

About Aegion Corporation (NASDAQ: AEGN)
Aegion combines innovative technologies with market-leading expertise to maintain, rehabilitate and strengthen infrastructure around the world. Since 1971, the Company has played a pioneering role in finding transformational solutions to rehabilitate aging infrastructure, primarily pipelines in the wastewater, water, energy, mining and refining industries. Aegion also maintains the efficient operation of refineries and other industrial facilities. Aegion is committed to Stronger. Safer. Infrastructure^®.