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Corrpro Shareholders Approve Merger With a Subsidiary of Insituform Technologies, Inc.

Published on 2009-03-17. Author : SpecialChem

MEDINA, Ohio -- Corrpro Companies, Inc., announced that the Corrpro shareholders voted to approve a proposal to adopt the definitive merger agreement providing for the acquisition of Corrpro by a wholly-owned subsidiary of Insituform Technologies, Inc. at a special meeting of the Corrpro shareholders in Houston, Texas. A majority of the voting power of Corrpro's Common Shares and Series B Cumulative Redeemable Voting Preferred Stock entitled to vote at the special meeting, voting together as a single class, voted to approve the Merger Proposal, and 100% of the outstanding shares of Corrpro's Series B Cumulative Redeemable Voting Preferred Stock entitled to vote at the special meeting voted to approve the Merger Proposal.

The proposed merger was announced on February 2, 2009 and is currently expected to close on or about March 31, 2009, pending the satisfaction or waiver of all the closing conditions set forth in the definitive merger agreement.

About Corrpro Companies, Inc.:

Corrpro, headquartered in Medina, Ohio, with over 30 offices worldwide, is the leading provider of corrosion control engineering services, systems and equipment to the infrastructure, environmental and energy markets around the world. Corrpro is the leading provider of cathodic protection systems and engineering services, as well as corrosion protection services relating to coatings, pipeline integrity and reinforced concrete structures.

Source: Corrpro Companies, Inc.


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