Last updated on April 16, 2014 at 11:02 EDT

ShawCor Secures Contracts For Coatings On The Linea 5 Pipeline Project In Mexico

July 24, 2012


TORONTO, July 24, 2012 /PRNewswire/ – ShawCor Ltd. (TSX: SCL.A, SCL.B) today
announced its pipecoating division, Bredero Shaw, has received
contracts with a value in excess of US$40 million from the Consortium
between Dragados Offshore and Swiber Offshore Construction and from
Tubacero S.A. de C.V. to provide pipeline coatings and related products
and services for the Linea 5 Pipeline Project operated by Petróleos
Mexicanos (PEMEX).

The Linea 5 Project will consist of approximately 77 km of 36″ pipe to
be installed offshore between the Plataforma Enlace Litoral and the
Terminal Maritima de Dos Bocas in the Bay of Campeche, Mexico. Natural
gas will be transported from the Litoral field to the terminal in Dos
Bocas for supply to the PEMEX distribution network in Tabasco, Mexico.

The contracts involve coating the pipe with fusion bond epoxy (FBE)
anticorrosion coating at Bredero Shaw Mexico’s Monterrey plant and the
supply of heat shrinkable joint protection sleeves manufactured by
ShawCor’s Canusa-CPS division. Lastly, Bredero Shaw Mexico will coat
the pipe with concrete weight coating using its Compression Coat
Technology (CCT) plant in Coatzacoalcos where anode installation will
also be completed. Coating for this project is scheduled to begin
during the third quarter of 2012.

Bredero Shaw’s CCT concrete coatings are the pipeline industry’s leading
coating system for projects requiring rapid mobilization or the
provision of concrete coatings near the right-of-way.  CCT concrete
coating systems are designed to provide negative buoyancy and
mechanical protection for pipelines in submarine environments, wet
environments or rocky and rough terrain configurations.  Compression
Coat uses a side-wrap application process, making it ideal for both
small and large diameter pipelines.

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