TORONTO, June 01, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced today that it has sold its Shaw Pipeline Services (“SPS”) operating unit to a US-based investor group which includes Achieve Capital LLC and members of current SPS management. This transaction resulted from the Company’s previously announced strategic review process.

With this sale, the Company’s Pipeline and Pipe Services (“PPS”) segment will consist entirely of the Pipeline Performance Group (“PPG”) operating unit, for which a previously communicated strategic review process is ongoing.

“Today’s announcement is consistent with the Company’s strategy to direct capital into a … Continue Reading

TORONTO, May 31, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) (“Shawcor” or the “Company”) announced today that its pipe coating division, Pipeline Performance Group (“PPG”), has received five formal contract awards and one letter of intent (“LOI”) for development projects in South America, Mexico and the Ivory Coast. The coating value of these projects collectively exceeds $150M. These commitments include:

TORONTO, May 26, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) (“Shawcor” or the “Company”) announced today that its pipe coating division, Pipeline Performance Group (“PPG”), has received a formal contract award for a development project, located offshore in South America. The Company had previously announced its conditional award, pending project sanction, in late 2022. Shawcor will provide thermal insulation and anticorrosion coating services from a Western Hemisphere facility. Project initiation is expected to begin in the fourth quarter of 2023. The coating value of this project is estimated to exceed C$110M.

“This award follows successful execution of coating activities … Continue Reading

TORONTO, May 15, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) announced today, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual Meeting held May 12, 2023 in Toronto, Ontario.

A total of 45,841,374 common shares were voted at the meeting representing 65.67% of the votes attached to all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows:

TORONTO, May 11, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) reported today its operational and financial results for the three months ended March 31, 2023. This press release should be read in conjunction with the Company’s Management Discussion and Analysis (MD&A) and interim consolidated financial statements for the three months ended March 31, 2023, which are available on the Company’s website and at www.sedar.com.

Highlights from the first quarter include1:

TORONTO, May 08, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) (“Shawcor” or the “Company”) announced today, in connection with the filing of its Management Proxy Circular (the “Circular”), that it will be hosting its Annual General Meeting (“AGM”) on May 12, 2023 at 2pm EDT. The Company will be conducting an administrative-only AGM that can be accessed via live webcast or, for registered shareholders and duly appointed proxyholders only, in person at 25 Bethridge Rd., Toronto ON, M9W1M7. Shareholders are encouraged to vote prior to the meeting using one of the methods described in the Circular, the form of … Continue Reading

TORONTO, April 26, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced today that it will be expanding its Composite Systems segment production capabilities in the US, with commitments for two new operating facilities. Capital expenditures for these operating facilities are expected to represent, in the aggregate, approximately $60 million across 2023 and 2024. The 2023 portion of these organic growth investments form a part of the Company’s previously communicated capital expenditure guidance of $160-$180 million for the current year. These facilities will expand the Company’s capability to deliver premium spoolable composite pipe and market-leading underground … Continue Reading

TORONTO, April 25, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) announced today that it expects to report its financial results for the period ended March 31st, 2023 on Thursday, May 11th, 2023 after the market closes for trading on the TSX.

A conference call/webcast to discuss these results will be held on Friday, May 12th, 2023 at 9:00am ET. Shawcor will use a presentation to accompany its conference call. The presentation can be found on the Company’s website in advance of the earnings call and can also be accessed via the conference call/webcast.

Please visit the Shawcor Investor Centre … Continue Reading

TORONTO, March 08, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) reported today its operational and financial results for the three and twelve months ended December 31, 2022. This press release should be read in conjunction with the Company’s Management Discussion and Analysis (MD&A) and audited consolidated financial statements for the years ended December 31, 2022, and 2021, which are available on the Company’s website and at www.sedar.com.

Highlights from the fourth quarter of 2022 include1:

TORONTO, March 01, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced that it has acquired the assets of Triton Stormwater Solutions, a privately owned provider of highly engineered, lightweight, composite materials-based underground infiltration chamber products, used primarily within stormwater management solutions. The product line will be consolidated into Shawcor’s Xerxes® business unit, which is reported as part of the Composite Systems segment.

“The acquisition of Triton Stormwater Solutions’ technology portfolio allows Shawcor to further expand our ability to offer a complete, composite materials based, stormwater management solution,” said Martin Perez, President of Shawcor’s Composite Systems … Continue Reading

TORONTO, Feb. 21, 2023 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) announced today that it expects to report its financial results for the period ended December 31st, 2022 on Wednesday, March 8th, 2023 after the close of trading on the TSX.

A conference call/webcast to discuss these results will be held on Thursday, March 9th, 2023 at 9:00am ET. Shawcor will use a presentation to accompany its conference call. The presentation can be found on the Company’s website in advance of the earnings call and can also be accessed via the conference call/webcast.

Please visit the Shawcor Investor Centre website … Continue Reading

TORONTO, Dec. 20, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) announced today that its pipe coating division, Pipeline Performance Group (“PPG”), has received several project commitments which, in aggregate, are valued over $200 million. These commitments include: