(TSX: SCL.A, SCL.B)
TORONTO, Jan. 9, 2012 /CNW/ - ShawCor Ltd. (TSX: SCL.A, SCL.B) today
announced its pipecoating division, Bredero Shaw, has received a
significant contract from Technip USA, to provide Concrete Weight
Coatings, anode installation and other related services for a Latin
American pipeline project.
The project will consist of approximately 100 km of 36" pipe to be
installed offshore for the transportation of natural gas. Bredero Shaw
will mobilize two Compression Coat Technology (CCT) concrete weight
coating plants to La Brea, Trinidad for this project. Initial
operations are scheduled to commence during the first quarter of 2012
with concrete coating scheduled to start in the third quarter of 2012.
Bredero Shaw's CCT concrete coatings are the pipeline industry's leading
coating system for projects requiring rapid mobilization or the supply
of concrete coatings near the pipeline right-of-way. CCT concrete
coating systems are designed to provide negative buoyancy and
mechanical protection for pipelines in submarine environments, wet
environments or rocky and rough terrain configurations. Compression
Coat uses a side-wrap application process, making it ideal for both
small and large diameter pipelines.
ShawCor Ltd is an energy services company specializing in products and
services for the pipeline and pipe services and the petrochemical and
industrial segments of the oil and gas industry. The company operates
through seven divisions with over seventy manufacturing and service
facilities located around the world.
Bredero Shaw, ShawCor's largest division, is the global leader in pipe
coating solutions and employs approximately 4,000 permanent and
contract personnel located at offices and facilities in fifteen
countries. The division provides specialized coating systems and
related services for corrosion protection, insulation and weight
coating applications on land and marine pipelines including highly
engineered corrosion and insulation systems for deepwater applications.
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 risks and uncertainties include, among other things, changes in
global economic activity and changes in energy supply and demand which
impact on the level of drilling activity and pipeline construction;
political, economic and other risks arising from international
operations; compliance with environmental, trade and other laws;
liability claims; fluctuations in foreign exchange rates and
fluctuations in raw material prices, as well as other risks and
uncertainties that are more fully described in the company's Annual
Information Form, annual and quarterly reports and other reports and
filings made with securities regulatory authorities and available at www.sedar.com.
SOURCE ShawCor Ltd.
For further information:
Vice President, Finance and CFO