{"id":399111,"date":"2020-12-14T09:33:19","date_gmt":"2020-12-14T14:33:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=399111"},"modified":"2020-12-14T09:33:19","modified_gmt":"2020-12-14T14:33:19","slug":"aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets\/","title":{"rendered":"Aegion Corporation Announces Plans to Divest Energy Services Segment to Focus on Core Municipal Wastewater and Drinking Water Markets"},"content":{"rendered":"<div class=\"mw_release\">\n<p>ST. LOUIS, Dec.  14, 2020  (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Nnq0gL07K9Z3iy43lN4ukhp40V2RVV7OXcBurPQq6Cqx9_KrzWFrI7BXmfIYULJM-Yjp1OwbZDMaZox7rixmHw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Aegion Corporation<\/a> (NASDAQ:AEGN) today announced plans to divest the Company\u2019s Energy Services segment, following Board of Directors\u2019 approval and a review of strategic alternatives for the business that was previously announced on October 28, 2020.<\/p>\n<p>Aegion Energy Services provides mission-critical maintenance, turnaround, construction and safety services at a majority of oil refineries on the U.S. West Coast. The business is led by a strong and tenured management team that has built longstanding relationships with leading blue-chip operators.<\/p>\n<p>Charles R. Gordon, Aegion\u2019s President and CEO, said, \u201cThe decision to divest Energy Services will further reduce Aegion\u2019s oil &amp; gas exposure and drive greater focus on our portfolio of pipeline rehabilitation technologies. Going forward, the vast majority of our business will be based on helping communities provide critical drinking water and sewer services through systems that are safer and stronger, thanks to our proprietary technologies and engineering and contracting expertise.\u201d<\/p>\n<p>The Company has retained BofA Securities as an independent financial advisor to assist with the divestiture and expects to launch a formal sale process in January 2021.<\/p>\n<p>\n        <strong>About\u00a0Aegion\u00a0Corporation (NASDAQ: AEGN)<\/strong><br \/>\n        <br \/>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.<sup>\u00ae<\/sup><\/p>\n<p>More information about Aegion can be found at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=TIaMDWi4I-S4Lhvyy-N3NiRo5wUm2yzKwKt5GRnD4Uf3UmbmTZnbO90mcmjRXlevCDDWw5_OUpirqrBiIsJ1gQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.aegion.com<\/a>.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong><br \/>\n        <br \/>The Private Securities Litigation Reform Act of 1995 provides a \u201csafe harbor\u201d for forward-looking statements. Aegion\u2019s forward-looking statements in this news release represent its beliefs or expectations about future events or financial performance. These forward-looking statements are based on information currently available to\u00a0Aegion\u00a0and on management\u2019s beliefs, assumptions, estimates or projections and are not guarantees of future events or results. When used in this document, the words \u201canticipate,\u201d \u201cestimate,\u201d \u201cbelieve,\u201d \u201cplan,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cwill\u201d 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 \u201cRisk Factors\u201d section of Aegion\u2019s Annual Report on Form 10-K for the year ended\u00a0December 31, 2019, filed with the\u00a0Securities and Exchange Commission\u00a0on\u00a0March 2, 2020, and in subsequently filed documents, and, in particular, the impact of the current COVID-19 virus outbreak and the evolving response thereto. In light of these risks, uncertainties and assumptions, the forward-looking events may not occur. In addition, Aegion\u2019s actual results may vary materially from those anticipated, estimated, suggested or projected. Except as required by law,\u00a0Aegion\u00a0does 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\u00a0Aegion\u00a0from time to time in Aegion\u2019s filings with the\u00a0Securities and Exchange Commission. Please use caution and do not place reliance on forward-looking statements. All forward-looking statements made by\u00a0Aegion\u00a0in this news release are qualified by these cautionary statements.<\/p>\n<p>\n        <em>Aegion<\/em><br \/>\n        <sup>\u00ae<\/sup> and the <em>Aegion<\/em><sup>\u00ae<\/sup> logo are the registered trademarks of Aegion Corporation and its affiliates.<\/p>\n<p>\n        <strong>For more information, contact:<\/strong><br \/>\n        <br \/>Katie Cason<br \/>Senior Vice President, Strategy and Communications<br \/>636-530-8000 | <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=4iac7TnNM-D2k-l2-OHVXrqDIOHJA7t8fNiHK2DvuqrJa1AOlO6DXAHp5KTCug6AUqSo_RFGz1mAqunLzuKylQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">kcason@aegion.com<\/a><\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTc3NCMzODgwMTk1IzIwMDgwNTA=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/77653450-4949-4b49-abed-4c63e23c7791\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>ST. LOUIS, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Aegion Corporation (NASDAQ:AEGN) today announced plans to divest the Company\u2019s Energy Services segment, following Board of Directors\u2019 approval and a review of strategic alternatives for the business that was previously announced on October 28, 2020. Aegion Energy Services provides mission-critical maintenance, turnaround, construction and safety services at a majority of oil refineries on the U.S. West Coast. The business is led by a strong and tenured management team that has built longstanding relationships with leading blue-chip operators. Charles R. Gordon, Aegion\u2019s President and CEO, said, \u201cThe decision to divest Energy Services will further reduce Aegion\u2019s oil &amp; gas exposure and drive greater focus on our portfolio of pipeline rehabilitation technologies. Going forward, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Aegion Corporation Announces Plans to Divest Energy Services Segment to Focus on Core Municipal Wastewater and Drinking Water Markets&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-399111","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Aegion Corporation Announces Plans to Divest Energy Services Segment to Focus on Core Municipal Wastewater and Drinking Water Markets - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aegion Corporation Announces Plans to Divest Energy Services Segment to Focus on Core Municipal Wastewater and Drinking Water Markets - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ST. LOUIS, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Aegion Corporation (NASDAQ:AEGN) today announced plans to divest the Company\u2019s Energy Services segment, following Board of Directors\u2019 approval and a review of strategic alternatives for the business that was previously announced on October 28, 2020. Aegion Energy Services provides mission-critical maintenance, turnaround, construction and safety services at a majority of oil refineries on the U.S. West Coast. The business is led by a strong and tenured management team that has built longstanding relationships with leading blue-chip operators. Charles R. Gordon, Aegion\u2019s President and CEO, said, \u201cThe decision to divest Energy Services will further reduce Aegion\u2019s oil &amp; gas exposure and drive greater focus on our portfolio of pipeline rehabilitation technologies. Going forward, &hellip; Continue reading &quot;Aegion Corporation Announces Plans to Divest Energy Services Segment to Focus on Core Municipal Wastewater and Drinking Water Markets&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-14T14:33:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExMTc3NCMzODgwMTk1IzIwMDgwNTA=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Aegion Corporation Announces Plans to Divest Energy Services Segment to Focus on Core Municipal Wastewater and Drinking Water Markets\",\"datePublished\":\"2020-12-14T14:33:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets\\\/\"},\"wordCount\":578,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODExMTc3NCMzODgwMTk1IzIwMDgwNTA=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/aegion-corporation-announces-plans-to-divest-energy-services-segment-to-focus-on-core-municipal-wastewater-and-drinking-water-markets\\\/\",\"name\":\"Aegion Corporation Announces Plans to Divest Energy Services Segment to Focus on Core Municipal Wastewater and Drinking Water Markets - 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LOUIS, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; Aegion Corporation (NASDAQ:AEGN) today announced plans to divest the Company\u2019s Energy Services segment, following Board of Directors\u2019 approval and a review of strategic alternatives for the business that was previously announced on October 28, 2020. Aegion Energy Services provides mission-critical maintenance, turnaround, construction and safety services at a majority of oil refineries on the U.S. West Coast. The business is led by a strong and tenured management team that has built longstanding relationships with leading blue-chip operators. Charles R. Gordon, Aegion\u2019s President and CEO, said, \u201cThe decision to divest Energy Services will further reduce Aegion\u2019s oil &amp; gas exposure and drive greater focus on our portfolio of pipeline rehabilitation technologies. 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