TORONTO, Dec. 06, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced that it has acquired Kanata Electronic Services Limited (“Kanata”), a privately owned manufacturer and supplier of specialty cable assemblies and wire harnesses for the nuclear and aerospace industries. Kanata serves customers around the globe from a single, Toronto area site and will be integrated into Shawcor’s ShawFlex wire and cable business.

“The addition of Kanata to our existing wire and cable portfolio will unlock significant opportunities for vertical integration and market expansion over the coming years,” said Frank Cistrone, President of Shawcor’s Automotive & … Continue Reading

Combination of Force and Guardian creates Western Canada’s pre-eminent NDT pipe and tubular inspection and threading services provider

NISKU, AB, Nov. 21, 2022 /CNW/ – Force Inspection Services Inc. (“Force” or the “Company“), a leading Western Canadian oilfield services company specializing in the inspection, repair, machining and matching of oilfield tubulars, today announced it has acquired substantially all of the assets, excluding real estate, of Shawcor Ltd.’s (TSX: SCL) Oilfield Asset Management operating unit (“Guardian“). The transaction closed on November 18, 2022.

Founded in 1971, Guardian is one of Western Canada’s two largest oilfield tubular management companies and … Continue Reading

Combination of Force and Guardian creates Western Canada’s pre-eminent NDT pipe and tubular inspection and threading services provider

NISKU, AB, Nov. 21, 2022 /CNW/ – Force Inspection Services Inc. (“Force” or the “Company“), a leading Western Canadian oilfield services company specializing in the inspection, repair, machining and matching of oilfield tubulars, today announced it has acquired substantially all of the assets, excluding real estate, of Shawcor Ltd.’s (TSX: SCL) Oilfield Asset Management operating unit (“Guardian“). The transaction closed on November 18, 2022.

Founded in 1971, Guardian is one of Western Canada’s two largest oilfield tubular management companies and … Continue Reading

TORONTO, Nov. 18, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced that it has sold its Oilfield Asset Management (“OAM”) operating unit to Force Inspection Services Inc. (“Force”), in a transaction generating at least C$15 million in gross proceeds. Shawcor will retain OAM related Western Canadian real-estate assets which it may elect to sell at a future date. As part of the transaction, Shawcor has agreed to lease these properties to Force. The OAM business, reported within the Company’s Composite Systems (“CS”) segment, is a provider of downhole tubular inspection, repair and inventory management services … Continue Reading

TORONTO, Nov. 14, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) reported today its operational and financial results for the three and nine months ended September 30, 2022. This press release should be read in conjunction with the Company’s Management Discussion and Analysis of Financial Condition and Results of Operation (the “MD&A”) and condensed interim consolidated financial statements for the three and nine months ended September 30, 2022, which are available on the Company’s website and at www.sedar.com.

Highlights from the third quarter of 2022 include:

TORONTO, Nov. 02, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (TSX: SCL) announced today that it expects to report its financial results for the period ended September 30th, 2022 on Monday, November 14th, 2022 before the market opens for trading on the TSX.

A conference call/webcast to discuss these results will be held on Monday, November 14th, 2022 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, Canada, Sept. 21, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company“), (TSX: SCL) today announced that the Toronto Stock Exchange (the “TSX”) has approved the Company’s notice of intention to commence a normal course issuer bid (the “Bid”) for common shares of the Company (the “Common Shares”).

Pursuant to the Bid, Shawcor may purchase for cancellation up to 5,685,630 Common Shares, representing approximately 10% of Shawcor’s public float (the “Maximum”). Pursuant to the terms of the notes indenture dated December 10, 2021 governing Shawcor’s senior unsecured notes, Shawcor is limited to purchasing a maximum of C$25 million … Continue Reading

TORONTO, Sept. 16, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company“), (TSX: SCL) today announced that it has filed a notice of intention with the Toronto Stock Exchange (the “TSX”) to commence a normal course issuer bid (the “Bid”) for common shares of the Company (the “Common Shares”), the implementation of which remains subject to TSX approval.

Pursuant to the Bid, Shawcor intends to purchase for cancellation up to 10% of Shawcor’s public float, subject to a maximum of C$25 million in aggregate repurchases of Common Shares based on the actual price paid for such repurchased Common Shares … Continue Reading

TORONTO, Sept. 12, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) today announced that it will seek to change its name to Mattr (the “Name Change”). The Name Change is expected to occur during the first half of 2023, conditional on regulatory and shareholder approvals, and it is anticipated that trading of the Company’s common shares will commence under a new ticker symbol. Further details regarding the Name Change, including the effective date of the Name Change and the new ticker symbol of the Company, will be announced over the coming months.

Concurrently, the Company has … Continue Reading

TORONTO, Sept. 09, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) today announced that its pipe coating division (“Pipeline Performance Group” or “PPG”) has been awarded a definitive contract by Allseas to provide anti-corrosion, internal flow coat, and concrete weight coatings for the Darwin Pipeline Duplication project, located offshore Northern Australia. The value of the award is approximately C$35 million. The work will be executed from Shawcor’s Kabil, Indonesia facility, commencing in 2023.

“Shawcor has many years of experience successfully executing large, complex coating projects from our Kabil facility, including the Scarborough project which will be … Continue Reading

TORONTO, Sept. 06, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced that it has sold its Lake Superior Consulting (“LSC”) operating unit to a private investment group, including members of LSC management, in a transaction generating approximately C$8 million in gross proceeds. The LSC business, reported within the Company’s Pipeline and Pipe Services (“PPS”) segment, offers engineering, consulting and field inspection services to the US onshore pipeline and broader energy infrastructure markets. It generated revenue of approximately C$59 million with neutral adjusted EBITDA during the full year of 2021 and generated revenue of approximately C$26 … Continue Reading

TORONTO, Aug. 30, 2022 (GLOBE NEWSWIRE) — Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) today announced the publication of its 2021 Environmental, Social, and Governance (“ESG”) report. The report can be found on the Company’s website at https://www.shawcor.com/about/esg.

“I am very pleased to report Shawcor’s continued progress towards our 2030 ambitions, including reductions in our Scope 1&2 greenhouse (GHG) emissions, enhanced diversity within our senior management team and actions to ultimately deliver on our Incident and Injury Free safety vision,” said Mike Reeves, President and CEO of Shawcor. “Across this organization we are committed to continuous improvement, delivering … Continue Reading