(TSX: SCL.SV.A, SCL.MV.B)
TORONTO, March 3 /CNW/ - ShawCor Ltd. (TSX: SCL.SV.A, SCL.MV.B) today
announced that an agreement has been signed by its Bredero Shaw division to
establish a pipe coating facility adjacent to the Oregon Steel Mills, Inc.
("Oregon Steel") large diameter line pipe mill under construction in Portland,
Oregon.
The agreement between Bredero Shaw and Oregon Steel contains provisions
whereby Bredero Shaw will supply coating services for fusion bond epoxy
corrosion coatings and internal linings, in exchange for the exclusive right
to provide Oregon Steel with all of its coating requirements at the new pipe
mill, the use of land and buildings at the facility and the provision of pipe
handling services. The coating line will be installed adjacent to Oregon
Steel's new 60 inch API large diameter pipe manufacturing mill that is
currently under construction. Oregon Steel has advised that the pipe mill is
expected to begin producing pipe in July 2006.
It is expected that there will be a significant increase in large
diameter pipeline construction in North America during the next few years and
Bredero Shaw is extremely pleased to make this investment, which highlights
the division's commitment to the large diameter pipe coating market in the
United States.
ShawCor Ltd. is an energy services company specializing in products and
services for the pipeline, and pipe services, and petrochemical and industrial
segments of the oil and gas industry and other industrial markets. Bredero
Shaw is ShawCor's largest division and is the global leader in pipe coating
solutions, employing 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 document contains forward looking statements, which are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those reflected in such statements.
