ShawCor announces contract to provide pipeline field joint coating services for the South Stream Project

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[{"type":"text","content":"\n\n\n(TSX: SCL)\n\n\nTORONTO, July 3, 2014 /CNW/ - ShawCor Ltd. (TSX: SCL) announced today\n that its field-applied pipeline coatings and services division,\n Canusa-CPS, has received a contract with a value of approximately Cdn\n $30 million from Saipem SpA to provide field joint coating services for\n Line 1 of the South Stream Offshore Pipeline.  The South Stream\n Offshore Pipeline system is comprised of 4 pipelines that will cross\n the Black Sea and transport gas from Russia to Bulgaria.\n\n\nThis contract involves the manufacture of 3-layer polypropylene heat\n shrink sleeves, and their application on each pipe weld of the 900 km\n 32\" offshore pipeline utilizing the Canusa-CPS patented IntelliCOATTM automated system. Contract execution is expected to commence in 2014.\n\n\nShawCor Ltd is an energy services company specializing in products and\n services for the pipeline and pipe services and the petrochemical and\n industrial segments of the oil and gas industry. The Company operates\n through eight divisions with over seventy-five manufacturing and\n service facilities located around the world.\n\n\nCanusa-CPS, ShawCor's provider of field-applied coatings, technologies\n and services, is the global leader in field-applied coatings for subsea\n pipelines.  With representation in more than 70 countries, the division\n provides specialized field-applied coating systems and related services\n for corrosion and thermal protection of land and offshore pipelines,\n including the world's leading factory grade field-applied coating\n systems for 3-layer polyethylene and polypropylene coated pipelines.\n\n\nThis news release contains forward-looking information within the\n meaning of applicable securities laws. Words such as \"may\", \"will\",\n \"should\", \"anticipate\", \"plan\", \"expect\", \"believe\", \"predict\",\n \"estimate\" or similar terminology are used to identify forward-looking\n information. This forward-looking information is based on assumptions,\n estimates and analysis made in the light of the Company's experience\n and its perception of trends, current conditions and expected\n developments, as well as other factors that are believed by the Company\n to be reasonable and relevant in the circumstances. Forward-looking\n information involves known and unknown risks, uncertainties and other\n facto...

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