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Last updated on April 20, 2014 at 8:28 EDT

ShawCor Secures Pipe Coating Contract For The Barzan Project In The Arabian Gulf

November 30, 2011

(TSX: SCL.A, SCL.B)

TORONTO, Nov. 30, 2011 /PRNewswire/ – ShawCor Ltd. (TSX: SCL.A, SCL.B) today
announced that its pipecoating division, Bredero Shaw, has received a
contract with a value in excess of US$45 million from Hyundai Heavy
Industries to provide corrosion protection and concrete weight coating
for the Barzan pipeline project in the Qatari sector of the Arabian
Gulf.

The contract will be executed at Bredero Shaw’s facility in Ras al
Khaimah in the United Arab Emirates and will involve the coating of 292
km of up to 24″ pipe with a fusion bonded epoxy anticorrosion coating
and HeviCote® concrete weight coating.  This facility is a technology
leader in the anticorrosion, concrete weight and internal coating
markets and provides leading-edge pipe coating solutions to clients
throughout the Middle East.  Work on this project is scheduled to
commence late in the first quarter of 2012.

ShawCor Ltd is an energy services company specializing in products and
services for the pipeline and pipe services and the petrochemical and
industrial segments of the oil and gas industry. The company operates
through seven divisions with over seventy manufacturing and service
facilities located around the world.

Bredero Shaw, ShawCor’s largest division, is the global leader in pipe
coating solutions and employs 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 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 risks and uncertainties include,
among other things, changes in global economic activity and changes in
energy supply and demand which impact on the level of drilling activity
and pipeline construction; political, economic and other risks arising
from international operations; compliance with environmental, trade and
other laws; liability claims; fluctuations in foreign exchange rates
and fluctuations in raw material prices, as well as other risks and
uncertainties that are more fully described in the company’s Annual
Information Form, annual and quarterly reports and other reports and
filings made with securities regulatory authorities and available at www.sedar.com.

SOURCE ShawCor Ltd.


Source: PR Newswire