Article: MFRI Completes Joint Acquisition of Pipe Coating and Insulating Facility in Camrose, Alberta, Canada.

NILES, Ill. -- MFRI, Inc. (NASDAQ - MFRI) Today, MFRI announced that its Perma-Pipe, Inc. (Perma-Pipe), subsidiary together with The Bayou Companies, Inc., (Bayou), have completed the $12.25 million (CAN) acquisition of Garneau, Inc's pipe coating and insulation facility and associated assets located in Camrose, Alberta Canada. The acquisition was effected through Bayou Perma-Pipe Canada, Ltd. ("BPPC"), a new joint venture company between Perma-Pipe, Inc. and Bayou. Bayou is a subsidiary of Insituform Technologies, Inc. (NASDAQ -- INSU).

Bayou and Perma-Pipe announced their agreement to acquire the Camrose facility on September 30, 2009. The Garneau shareholders ...

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