(TSX: SCL.A, SCL.B)
TORONTO, Sept. 13 /CNW/ - ShawCor Ltd. (TSX: SCL.A, SCL.B) announced today that its subsidiary, Shaw Pipe Protection Ltd., will invest $13.8 million in additional FBE pipe coating capacity for the Western Canadian Sedimentary Basin (WCSB). This investment is in addition to the previously announced facility expansions in Camrose, Alberta.
The additional coating capacity will be added to the Shaw Pipe Regina pipe coating facility which will be upgraded to provide advanced FBE technology for small and large diameter pipe. The investment will ensure continued high service levels to Canadian customers including IPSCO Inc., which recently announced a significant expansion and Enbridge Pipelines Inc., which has a long-term supply arrangement with Shaw Pipe. The added capacity will be in-service by the end of the third quarter of 2008
Shaw Pipe operates a network of six advanced pipe coating facilities that service the needs of the WCSB and has an extensive track record of providing North American customers with the highest levels of quality, capacity and safety. This new expansion will ensure that these service levels are maintained and enhanced.
ShawCor Ltd. is an energy services company specializing in products and services for the pipeline and pipe services and the petrochemical and industrial segments of the oil and gas industry. The company operates through six divisions with over sixty manufacturing and service facilities located around the world. Shaw Pipe Protection Ltd., is a wholly owned unit of Bredero Shaw, ShawCor's largest division. Bredero Shaw is the global leader in pipe coating solutions and employs approximately 4,000 permanent and contract personnel located at offices and facilities in fifteen countries. The division provides specialized coating systems and related services for corrosion protection, insulation and weight coating applications on land and marine pipelines including highly engineered corrosion and insulation systems for deepwater applications.
This news release contains forward-looking information within the meaning of applicable securities laws. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate", and similar terminology are used to identify forward-looking information. This forward looking information is based on assumptions, estimates and analysis made in light of the company's experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. The risks and uncertainties include, among other things, changes in global economic activity and changes in energy supply and demand which impact on the level of drilling activity and pipeline construction; political, economic and other risks arising from international operations; compliance with environmental, trade and other laws; liability claims; fluctuations in foreign exchange rates and fluctuations in raw material prices, as well as other risks and uncertainties that are more fully described in the company's Annual Information Form, annual and quarterly reports and in other reports and filings made with securities regulatory authorities and available at www.sedar.com.