Business
Perma-Pipe International Holdings Inc. Announces Plans to Expand to Qatar
SPRING, Texas--(BUSINESS WIRE)-- Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has taken preliminary steps to expand operations to Qatar and
About this update from Perma-pipe International Holdings, Inc.
[{"type":"text","content":" SPRING, Texas--(BUSINESS WIRE)--\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has taken preliminary steps to expand operations to Qatar and mobilization is expected to commence during the current year. In addition to the local district heating and cooling market, there are numerous significant future developments in the oil and gas industry which the Company will position itself for.\n\nDavid Mansfield, President and CEO commented, “This expansion is another step in the execution of our strategic plans. Our expansion into Egypt, relocation of our U.A.E. plant to Abu Dhabi and the recently announced joint venture in Saudi Arabia demonstrate our commitment to service the region’s infrastructure growth.”\n\nPerma-Pipe International Holdings, Inc.\n\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, 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\nForward-Looking Statements\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 customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company’s ability to repay its de...