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Shawcor Announces Conditional Contract to Provide Pipe Coating Services for the Greater Tortue Ahmeyim Phase 1A Project

Company Release - 5/3/2019 2:30 PM ET

TORONTO, May 03, 2019 (GLOBE NEWSWIRE) -- Shawcor Ltd. (TSX: SCL) today announced that its pipe coating division has been awarded a conditional contract from Sumitomo Corporation Europe Limited valued at approximately C$30 million to provide anticorrosion and concrete weight coating services for the Greater BP Tortue Ahmeyim Phase 1A Project development, located offshore Senegal and Mauritania, West Africa. The contract is scheduled to be executed from the Kabil, Indonesia facility during 2020. 

Shawcor Ltd. is a global energy services company specializing in products and services for the pipeline and pipe services segment of the oil and gas industry and related products for the petrochemical and industrial market. The Company operates through a global network of fixed and mobile manufacturing and service facilities and is valued for its integrity, technology and proven capability to execute the most complex projects in its industry.

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" or similar terminology are used to identify forward-looking information. This forward-looking information is based on assumptions, estimates and analysis made in the 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 forward-looking information is provided as of the date of this news release and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.

For further information, please contact:

Shawcor Ltd.
Gaston Tano
Senior Vice President, Finance and CFO
Tel: 416-744-5539
Email: gaston.tano@shawcor.com
Website: www.shawcor.com

 

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Source: Shawcor Ltd.

 

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