SAINT LOUIS, MO., December 15, 2016 – Aegion Corporation (“Aegion” or the “Company”) (Nasdaq Global Select Market: AEGN) today announced the acquisition of Concrete Solutions Ltd, an innovative provider of structural strengthening and concrete repair solutions in New Zealand. Concrete Solutions® has been operating for 22 years, and has been the exclusive applicator of the Tyfo® Fibrwrap® system in New Zealand for over 15 years.
Daniel Gamboa, Oceania Vice President of Aegion’s Infrastructure Solutions platform, said, “The services provided by Concrete Solutions® complement our Insituform® and Fibrwrap® system technologies. Concrete Solutions® sustained strong financial performance, along with its high levels of experience and quality, led us to approach their leadership team to formalize our partnership. This acquisition enables Aegion to further advance our strategy to expand in the Oceania region. We are pleased that Concrete Solutions® was open to our interest in adding their business to our portfolio, and are honored to have them as part of the Aegion family. We will focus on growing the New Zealand market, particularly the infrastructure and concrete rehabilitation sectors, and will use our technologies to provide seismic protection throughout the region.”
Commenting on the acquisition, Neil Chevalier, Director of Concrete Solutions®, said, ” The innovative and leading range of products and systems that Concrete Solutions offers provides a distinct advantage to our Clients. We are excited to join Aegion and add our capabilities to their scale and market leading technologies, and look forward to working with the team to strengthen our presence in the Oceania market.”
Aegion’s Oceania group has already experienced success in Australia since the transaction was finalized, with three new concrete repair projects awarded to Insituform, and delivered in partnership with Concrete Solutions®.
About Aegion (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 and provides innovative solutions for the strengthening of buildings, bridges and other structures. Aegion is committed to Stronger. Safer. Infrastructure
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” 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 for the year ended December 31, 2015, as filed with the Securities and Exchange Commission on February 29, 2016, and in the Company’s subsequent quarterly reports on Form 10-Q. In light of these risks, uncertainties and assumptions, the forward-looking events may not occur. In addition, the Company’s actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law, the Company does not assume a duty to update forward-looking statements, 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 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.
Aegion®, Insituform®, Tyfo® and Fibrwrap® are the registered trademarks of Aegion Corporation and its affiliates.
For more information, contact:
David F. Morris, Executive Vice President and Chief Administrative Officer