Business
ShawCor Ltd. announces acquisition of 50% equity interest in Eupec Brasil Ltda.
ShawCor Ltd. announces acquisition of 50% equity interest in Eupec Brasil Ltda..
About this update from Mattr Corp
[{"type":"text","content":"\n\n\n\n\n>\n\nTORONTO, Aug. 8 /CNW/ - ShawCor Ltd. (TSX: SCL.A, SCL.B) today announced\nthat its Bredero Shaw division has completed the acquisition of a 50% equity\ninterest in Eupec Brasil Ltda. from Eupec PipeCoatings GmbH, subject to the\nreceipt of regulatory approvals in Brazil. As a result of the acquisition, the\ncompany has been renamed Bredero Shaw Revestimentos de Tubos Ltda. The\nremaining 50% equity interest in the company is owned by Delta Premium Trading\nCorp., the principal shareholders of which are currently the partners in\nBredero Shaw's existing Brazilian joint venture, Thermotite Brasil Ltda. Both\nthe Bredero Shaw Revestimentos de Tubos and Thermotite Brasil coating\noperations are located adjacent to the Vallourec & Mannesmann pipe mill in\nBelo Horizonte, Brazil.\nPrior to the completion of this transaction, Bredero Shaw's participation\nin the Brazilian pipe coating market has been focused on the provision of\nspecialized insulation products for offshore pipelines. These projects include\nthe current contract being performed by Thermotite Brasil Ltda. for the\nPetrobras PDEG project. With the acquisition of the 50% interest in Eupec\nBrasil Ltda., Bredero Shaw will be able to offer a complete range of\nanticorrosion coatings and linings along with high performance insulation\ncoatings to serve both the onshore and offshore segments of the Brazilian\npipeline market.\nShawCor Ltd. is an energy services company specializing in products and\nservices for the pipeline, exploration and production, and petrochemical and\nindustrial segments of the oil and gas industry. The company operates through\nsix divisions with manufacturing and service facilities located around the\nworld.\nBredero Shaw is the global leader in pipe coating solutions and employs\napproximately 4,000 permanent and contract personnel located at offices and\nfacilities in fifteen countries. The division provides specialized coating\nsystems and related services for corrosion protection, insulation and weight\ncoating applications on land and marine pipelines including the widest array\nof highly engineered corrosion and insulation systems for deepwater\napplications. This investment in Bredero Shaw Revestimentos de Tubos Ltda. is\na key part of the company's overall strategy to serve growing South American\noil and gas markets with le...