Insituform Technologies announces joint venture in Saudi Arabia

Offshore staff

ST. LOUIS, Missouri – Insituform Technologies has announced that Saudi Trading & Research Co. and Corrpro Companies, Inc., a subsidiary of Insituform, have entered into a joint venture in Saudi Arabia.

The joint venture, Corrpower International Ltd, which is 70% owned by Corrpro and 30% by STARC, will provide a fully integrated corrosion protection product and service offing to government and private sector clients throughout the Kingdom of Saudi Arabia, including engineering, product and material sales, construction, installation, inspection, monitoring and maintenance. The joint venture will serve as a platform for the continued expansion of Insituform’s Energy and Mining group in the Middle East.

Dorwin Hawn, senior VP of Insituform’s Energy and Mining group, said “Insituform’s Energy and Mining platform is focused on expanding its geographic reach in the Middle East. We expect our partnership with STARC will allow us to quickly provide valuable pipeline protection solutions throughout Saudi Arabia. Corrpro has had operations in the Middle East since 2006.”

Ahmed Nazir, managing director of STARC, said, “We are delighted to enter into this joint venture with Corrpro. Corrosion problems are on the rise in Saudi Arabia and adding corrosion control solutions to our portfolio is important. The venture will enable us to provide these services by capitalizing on Corrpro’s extensive international and regional expertise and on STARC’s strong local presence. We are extremely optimistic about the future and look forward to working with Corrpro and Insituform.”

06/28/2011