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Perma-Pipe International Holdings, Inc. announces $8.5 million in contract awards in India and Saudi Arabia
SPRING, Texas--(BUSINESS WIRE)-- PERMA-PIPE International Holdings, Inc. (Nasdaq: PPIH) today announces the award of contracts with a combined value of $8.5
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 $8.5 million in India and the Kingdom of Saudi Arabia. The contracts are for the XTRU-THERM® product. Both projects are scheduled to be delivered by the end of Q4 2023.\n\n\nSaleh Sagr, Senior Vice President for PERMA-PIPE’s MENA region, commented: ”We are thrilled to maintain our market position as the leading provider of preinsulated piping technology for district cooling market in Saudi Arabia. We are also pleased to have another opportunity to demonstrate our capabilities to Cairn Energy in the oil and gas market.”\n\n\nDavid Mansfield, President, and CEO, stated: “Providing excellence in engineered pipe services in a variety of industries, is what we do well. It is reassuring to see that the market is meeting our expectations.”\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 flows; (ii) fluctuations in the price of oil and natural gas and its impact on the cus...