(TSX: SCL.A, SCL.B)
TORONTO, June 25 /CNW/ - ShawCor Ltd. (TSX: SCL.A, SCL.B) today announced
its subsidiary, Bredero Shaw, has received a contract with a value in excess
of US$35 million to provide pipeline coatings for Sabah Shell Petroleum Co.
Ltd.'s (SSPC) Gumusut-Kakap Deepwater Project located in the South China Sea
120 km offshore Sabah. The contract has been awarded to Bredero Shaw (M) Sdn.
Bhd. and the project will be executed at the Bredero Shaw facility in Kuantan,
The scope of the Gumusut-Kakap Deepwater Project requires 40 km of 18"
pipe to be protected with Fusion Bonded Epoxy (FBE) and Bredero Shaw's
ThermoFlo D insulation coating designed for water depths of 1,200 meters.
Specialized processing equipment, designed by Bredero Shaw, will be mobilized
and pre-qualification testing will be completed in December 2008. Upon
completion of thorough simulated service testing, the ThermoFlo D insulation
coating application will begin by the end of the first quarter of 2009.
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
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.
The 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.
For further information:
For further information: ShawCor Ltd.: Gary Love, Vice President,
Finance and CFO, Tel: (416) 744-5818, Email: firstname.lastname@example.org, Website: