Insituform names M. Richard Smith to board

AP News
Posted: Dec 17, 2009 5:10 PM

Insituform Technologies Inc., a company that rehabilitates sewer, water, energy and mining piping systems, said Thursday it has named M. Richard Smith to its board of directors.

Smith, 62, currently serves on the board of directors at power development company Sithe Global Power LLC, and as chairman of coal technology company Evergreen Energy Inc. Previously, he was president of Bechtel Corp.'s fossil power business unit.

The addition of Smith increases Insituform's board from seven to eight members.

It is the second time this year Insituform has named a new director. Charles W. Gordon, 51, president and CEO of Siemens AG's water technologies division, joined Insituform's board in July.

Insituform shares dropped 75 cents to close at $23.18 Thursday.