Business
ShawCor announces contract to provide pipe coating services for the Laggan-Tormore project
ShawCor announces contract to provide pipe coating services for the Laggan-Tormore project
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[{"type":"text","content":"\n\n\n\n May 14, 2010 (Canada NewsWire Group) -- SHAWCOR LTD. (TSX: SCL.A, SCL.B)\n\n ShawCor Ltd. (TSX: SCL.A, SCL.B) today announced its pipe coating division, Bredero Shaw, has received a contract with a value in excess of US$90 million from Corus UK Limited to provide pipeline coatings for the Total E&P UK Ltd. Laggan-Tormore project. Laggan-Tormore is an offshore gas field which lies 125 km north-west of the Shetland Islands in water depths of up to 600 meters. The work will be executed at the Bredero Shaw pipe coating facility in Leith, Scotland.\nThis contract involves coating approximately 298 km of 18" and 241 km of 30" pipe that will be protected with 3-layer polypropylene anticorrosion coating, internal flow efficiency coating and concrete weight coating. Coating will commence during the fourth quarter of 2010.\nShawCor 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.\nBredero 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.\n\nThis 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 unkn...