ShawCor wins US$40M in contracts from offshore energy services company Subsea 7

TORONTO – ShawCor Ltd. (TSX:SCL.A) has been awarded more than US$40 million in pipecoating contracts by Subsea 7, a seabed to surface engineering, construction and services firm.

The contracts will be executed at the company’s Bredero Shaw facility in Orkanger, Norway, and involve putting flow assurance pipecoating on more than 110 kilometres of six- to 16-inch pipe, Toronto-based ShawCor said Monday.

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The pipe will be used for projects in the Norwegian sector of the North Sea.

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 and has more than 70 manufacturing and service facilities around the world employing some 4,000 permanent and contract personnel.

Stock in ShawCor was up 33 cents at $24.19 at midday Monday on the Toronto Stock Exchange.