TSX: SCL.A, SCL.B
TORONTO, Feb. 14 /CNW/ - ShawCor Ltd. (TSX: SCL.A, SCL.B) today announced
its subsidiary, Bredero Shaw, has received a contract with a value of
approximately $30 million to provide pipeline coatings for StatoilHydro's Gjoa
offshore projects in the North Sea. The contract has been awarded to Bredero
Shaw Norway AS, but will be executed at the Bredero Shaw coating facility in
Leith, Scotland which will be reopened for its first major project since 2006.
The contract is a part of the Frame Agreement between StatoilHydro and Bredero
Shaw Norway AS.
Bredero Shaw's Leith facility will provide the Anti-Corrosion Coating,
Internal Coating and Concrete Weight Coating for the 130 km Gjoa gas pipeline.
A further 55 km of 16" pipe for the Gjoa oil pipeline will be coated with
Anti-Corrosion Coating and Concrete Weight Coating. The 28" pipeline will be
installed from the Gjoa field and be connected to the FLAGS trunkline system
while the 16" pipeline will connect the Gjoa field to the Troll Oljerxr II
ShawCor Ltd is an energy services company specialising 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
six divisions with over sixty manufacturing and service facilities located
around the world.
Bredero Shaw, ShawCor's largest division, is the global leader in pipe
coating solutions. 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 in other reports and filings made with securities regulatory
authorities and available at ww.sedar.com.
For further information:
For further information: ShawCor Ltd., Gary Love, Vice President,
Finance and CFO, Tel: (416) 744-5818, E-mail: email@example.com, Website: