Business
Perma-Pipe International Holdings, Inc., announces $46 million in Contract Awards in the Middle East Region
SPRING, Texas--(BUSINESS WIRE)-- Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has been awarded two projects in the MENA region.
About this update from Perma-pipe International Holdings, Inc.
[{"type":"text","content":" SPRING, Texas--(BUSINESS WIRE)--\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has been awarded two projects in the MENA region. The overall amount of the two projects is more than 46 million USD.\n\n\nThe two awarded projects are part of major developments in the region. These projects will utilize Perma-Pipe’s coating capabilities, and the XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing.\n\n\nSaleh Sagr, Sr. Vice President for Perma-Pipe’s MENA region commented, “These awards are consistent with our strategy to continue our focus on serving the rapidly growing markets in the region. We would like to thank our customers for placing their trust in us, and we will ensure that we deliver both projects on schedule with the highest standards of both quality and safety.”\n\n\nDavid Mansfield, President and CEO commented, \"We are excited about these significant awards which are an important part of our growth plans. They have strategic importance to Perma-Pipe and further strengthen our position in the Middle East region.”\n\n\nPerma-Pipe International Holdings, Inc.\n\n\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH, “Perma-Pipe”, or the “Company”) 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 fifteen 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 un...