Business
Perma-Pipe International Holdings Announces Contract Awards in Excess of $23 Million
SPRING, Texas--(BUSINESS WIRE)-- PERMA-PIPE International Holdings, Inc., (Nasdaq: PPIH) today announces the award of contracts with a combined value of
About this update from Perma-pipe International Holdings, Inc.
[{"type":"text","content":" SPRING, Texas--(BUSINESS WIRE)--\nPERMA-PIPE International Holdings, Inc., (Nasdaq: PPIH) today announces the award of contracts with a combined value of $23.5 million in the United Arab Emirates and Egypt. The contracts are for custom coatings in the oil & gas sector as well as the XTRU-THERM® product in the district heating and cooling sector.\n\n\nSaleh Sagr, Senior Vice President for PERMA-PIPE’s MENA region, comments, “I am delighted to announce these project awards. In Egypt, it is further confirmation of the success of our strategy to establish a position in a growing local market. In the UAE, the project award confirms our leading market position and provides us the opportunity to demonstrate our industry-leading products and services to a new customer.”\n\n\nDavid Mansfield, President, and CEO, states, “We are pleased to continue to maintain our market position in Egypt, and to demonstrate our capabilities in the newly established facilities in Abu Dhabi.”\n\n\nPerma-Pipe International Holdings, Inc.\n\n\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fourteen locations in six countries.\n\n\nForward-Looking Statements\n\n\nCertain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus (\"COVID-19\") on the Company's results of operations, financial condition and cash fl...