AEGN - Aegion to divest energy services segment to focus on core business

Aegion (AEGN) plans to divest the company’s energy services segment, following BOD approval and a review of strategic alternatives for the business that was previously announced on October 28, 2020.CEO and President Charles R. Gordon comments, “The decision to divest Energy Services will further reduce Aegion’s oil & 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.”Press Release

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Aegion to divest energy services segment to focus on core business