Insituform Technologies Awarded Contract Extension Valued at $6.0 Million from Scottsdale, Arizona
Insituform Technologies, Inc. (Nasdaq: INSU) announced today that it has received a contract extension from the City of Scottsdale, Arizona valued at approximately $6.0 million for the cured-in-place pipe rehabilitation of 75,000 feet of small- and medium-diameter wastewater pipelines. This negotiated contract is the first one-year extension of the initial three-year term contract and provides the City of Scottsdale the option to extend for a fifth year.
Ken Foster, Vice President and General Manager of Insituform Technologies, said, “Our work in Scottsdale allows us to rehabilitate valuable underground pipelines with minimal disruption to residents. Once rehabilitated, we expect this network of pipelines to last for several decades. As always, we remain focused on providing experienced project management as we partner with the City of Scottsdale.”
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