TORONTO, June 11, 2019 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) today announced that its pipe coating division has entered into contracts with an international EPC contractor to provide coating services for the following offshore pipeline projects:

These projects will be executed within Shawcor’s network of coating facilities, including Serra in Brazil, Orkanger in Norway and Channelview in the United States during 2019-2020. Coating work … Continue Reading

TORONTO, May 16, 2019 (GLOBE NEWSWIRE) — Shawcor Ltd.  (TSX: SCL) announced today, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual Meeting held May 14, 2019 in Toronto, Ontario.… Continue Reading

TORONTO, May 14, 2019 (GLOBE NEWSWIRE) — Mr. Steve Orr, Chief Executive Officer of Shawcor Ltd. remarked “First quarter revenue and Adjusted EBITDA reflected continued low activity, ongoing investments being made in pipe coating and weakness in Western Canada. These results were softer than expected but are aligned with our earlier communications that 2019 will be a year of two halves, with the second half being stronger than the first as pipe coating starts to contribute.”… Continue Reading

TORONTO, May 14, 2019 (GLOBE NEWSWIRE) — The Shawcor Ltd. (TSX: SCL) Board of Directors today declared a dividend of fifteen cents (15.00 cents) per share on the outstanding common shares of the Corporation payable on the 7th day of June 2019, to shareholders of record at the close of business on the 24th day of May 2019.… Continue Reading

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.  … Continue Reading

TORONTO, April 26, 2019 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) announced today that it expects to report its financial results for the period ended March 31st, 2019 on Tuesday, May 14th after the close of trading on the TSX.… Continue Reading

TORONTO, April 02, 2019 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced the closing today of the previously announced plan of arrangement (the “Arrangement”) under section 192 of the Canada Business Corporations Act, involving ZCL Composites Inc. (“ZCL”), Shawcor and the holders (the “Shareholders”) of common shares of ZCL (the “Common Shares”) and holders of options to purchase Common Shares of ZCL (the “Optionholders” and together with the Shareholders, the “Securityholders”).… Continue Reading

TORONTO, March 13, 2019 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) is announcing today that it has closed on the previously announced credit facility (the “Credit Facility”) with The Toronto-Dominion Bank and National Bank of Canada as co-lead arrangers and HSBC Bank Canada, JPMorgan Chase Bank, The Bank of Nova Scotia and Export Development Bank as lenders. The Credit Facility replaces Shawcor’s existing credit facility and provides for a US$500 million, four-year senior unsecured revolving facility.  The Credit Facility will be used to fund the previously announced acquisition of ZCL Composites Inc. and for other general corporate purposes.  Shawcor also … Continue Reading

TORONTO, March 06, 2019 (GLOBE NEWSWIRE) — Mr. Steve Orr, Chief Executive Officer of Shawcor Ltd. (TSX: SCL) remarked “Fourth quarter revenue and Adjusted EBITDA1 were in line with expectations given the typical seasonal slowdown in several of our businesses and the negative impact of lower activity and investments being made in our pipe coating business. Our annual 2018 results demonstrated the Company’s ability to deliver positive results from our diversified portfolio despite not having any contribution from a large pipe coating project and are aligned with expectations we communicated one year ago.”… Continue Reading

TORONTO, Feb. 21, 2019 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) announced today that it expects to report its financial results for the period ended December 31st, 2018 on Wednesday, March 6, 2019, after the close of trading on the TSX.… Continue Reading

TORONTO, Jan. 20, 2019 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) announced today that it has entered into an arrangement agreement (the “Arrangement Agreement”) to acquire all of the issued and outstanding shares of ZCL Composites Inc. (“ZCL”) (TSX: ZCL).… Continue Reading

TORONTO, Jan. 20, 2019 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced today that it has entered into an arrangement agreement (the “Arrangement Agreement”) to acquire all of the issued and outstanding shares of ZCL Composites Inc. (“ZCL”) (TSX: ZCL) for $10.00 per share in cash by way of a statutory plan of arrangement (the “Arrangement”).  The price per share implies an aggregate fully diluted equity value for ZCL of approximately $308 million.  ZCL is North America’s largest manufacturer and supplier of environmentally friendly fibreglass reinforced plastic (“FRP”) underground storage tanks. ZCL has two plants in … Continue Reading