Shawcor Receives Contract Award for Darwin Pipeline Duplication Project, Offshore Northern Australia
September 09 2022 - 6:45AM
Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) today
announced that its pipe coating division (“Pipeline Performance
Group” or “PPG”) has been awarded a definitive contract by Allseas
to provide anti-corrosion, internal flow coat, and concrete weight
coatings for the Darwin Pipeline Duplication project, located
offshore Northern Australia. The value of the award is
approximately C$35 million. The work will be executed from
Shawcor’s Kabil, Indonesia facility, commencing in 2023.
“Shawcor has many years of experience
successfully executing large, complex coating projects from our
Kabil facility, including the Scarborough project which will be
underway imminently,” said Simon Dewey, PPG’s Senior Vice President
- Eastern Hemisphere. “We believe this experience, combined with
our market leading technology and highest quality standards,
positions Shawcor to be a strong partner to Allseas.”
Kevin Reizer, PPG President added “The global
offshore pipeline construction industry is entering a multi-year
period of robust activity, driven by the rising need for energy
supply and energy security. As the world’s leading provider of
offshore pipeline coating solutions, Shawcor is excited to be
involved in this project. Today’s award, in combination with the
recently announced Southeast Gateway Pipeline contract and many
other smaller projects, serves to strengthen our already
substantial backlog while ensuring our worldwide footprint of
coating facilities move a step closer to full utilization.”
About Shawcor
Shawcor Ltd. is a growth-oriented, global
material sciences company serving the Infrastructure, Energy, and
Transportation markets. The Company operates through a network of
fixed and mobile manufacturing and service facilities. Its three
business segments, Composite Systems, Automotive & Industrial
and Pipeline & Pipe Services enable responsible renewal and
enhancement of critical infrastructure while lowering risk and
environmental impact.
For further information, please contact:
Meghan MacEachernExternal Communications &
ESG, DirectorTelephone: 437.341.1848Email:
meghan.maceachern@shawcor.com shawcor.com
Forward Looking Information
This news release contains forward-looking
information within the meaning of applicable securities laws. Words
such as "may", "will", "should", "anticipate", "plan", "expect",
"believe", "predict", "estimate" or similar terminology are used to
identify forward-looking information. This forward-looking
information is based on assumptions, estimates and analysis made in
the light of the Company's experience and its perception of trends,
current conditions and expected developments, as well as other
factors that are believed by the Company to be reasonable and
relevant in the circumstances. Forward-looking information involves
known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements to be materially
different from those predicted, expressed or implied by the
forward-looking information. The forward-looking information is
provided as of the date of this news release and the Company does
not assume any obligation to update or revise the forward-looking
information to reflect new events or circumstances, except as
required by law.
Source: Shawcor Ltd.
ShawCor (TSX:SCL)
Historical Stock Chart
From Nov 2024 to Dec 2024
ShawCor (TSX:SCL)
Historical Stock Chart
From Dec 2023 to Dec 2024