KUALA LUMPUR, Nov 7 (Bernama) -- Perma-Pipe International Holdings Inc has secured new project awards totalling US$15 million across the Middle East and North Africa (MENA) region and the Americas. (US$1=RM4.39)
In a statement, the company said it has been awarded US$6 million in new projects in the MENA region and US$9 million in the Americas, demonstrating continual improvement in the region.
These new project awards will utilise Perma-Pipe’s anti-corrosion coatings capabilities and the XTRU-THERM insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing.
“Growth in all regions has been part of our overall strategy, and we are proud to see this coming together, enabling Perma-Pipe to continue strengthening its leading market position,” said Perma-Pipe President and Chief Executive Officer, David Mansfield.
These new project awards further complement the company’s backlog which has grown significantly from US$75.0 million at July 31 to over US$100.0 million currently.
The MENA projects mainly focus on district energy infrastructure in the Gulf Cooperation Council (GCC) region, while the Americas awards demonstrate the buoyancy in the Americas market and the continual strengthening of the company’s position in the United States (US) and Canada.
Perma-Pipe is a global leader in pre-insulated piping and leak detection systems for oil and gas, district heating and cooling, and other applications, has operations at 15 locations in six countries.
-- BERNAMA
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