Business
ShawCor announces further expansion in Camrose, Alberta
ShawCor announces further expansion in Camrose, Alberta.
About this update from Mattr Corp
[{"type":"text","content":"\n\n\n\n(TSX: SCL.A, SCL.B)\n\n\nTORONTO, May 23 /CNW/ - ShawCor Ltd. (TSX: SCL.A, SCL.B) today announced\nits subsidiary, Shaw Pipe Protection Limited, has entered into an agreement to\npurchase approximately 250 acres of land in Camrose, Alberta, adjacent to the\ncompany's new coating facility, which is nearing completion. The closing is\nsubject to the fulfillment of certain conditions.\n\n\nThe purchase of this land will permit increased pipe storage and be\navailable for expansion of the new state-of-the-art pipe coating facility in\nCamrose. This is in addition to previously announced investments to increase\nFusion Bonded Epoxy (FBE) pipe coating capacity.\n\n\nThe combination of these investments will provide Western Canadian\ncustomers with high levels of quality and service as well as increased coating\nand yard storage capacity to meet the requirements of upcoming projects.\n\n\nShawCor Ltd. is an energy services company specializing in products and\nservices for the pipeline and pipe services and the petrochemical and\nindustrial segments of the oil and gas industry. The company operates through\nsix divisions with over sixty manufacturing and service facilities located\naround the world. Shaw Pipe Protection Ltd., is a wholly owned unit of Bredero\nShaw, ShawCor's largest division. Bredero Shaw is the global leader in pipe\ncoating solutions and employs approximately 4,000 permanent and contract\npersonnel located at offices and facilities in fifteen countries. The division\nprovides specialized coating systems and related services for corrosion\nprotection, insulation and weight coating applications on land and marine\npipelines including highly engineered corrosion and insulation systems for\ndeepwater applications.\n\n\nThis new release contains forward-looking information within the meaning\nof applicable securities laws. Words such as "may", "will", "should",\n"anticipate", "plan", "expect", "believe", "predict", "estimate", and similar\nterminology are used to identify forward-looking information. This forward\nlooking information is based on assumptions, estimates and analysis made in\nlight of the company's experience and its perception of trends, current\nconditions and expected developments, as well as other factors t...