Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has announced the successful acquisition of two major projects in the MENA region, with a combined value exceeding $46 million USD.
The awarded projects are integral components of significant developments in the region, where Perma-Pipe’s advanced coating capabilities and the XTRU-THERM® insulation system—featuring spray-applied polyurethane foam with a high-density polyethylene casing—will be utilized.
Saleh Sagr, Senior Vice President for Perma-Pipe’s MENA region, expressed his enthusiasm, stating, “These awards align perfectly with our strategy to focus on the rapidly expanding markets in the region. We deeply appreciate the trust our customers have placed in us, and we are committed to delivering these projects on time, with the highest standards of quality and safety.”
David Mansfield, President and CEO of Perma-Pipe, added, “These significant awards are a crucial part of our growth strategy and further solidify our position in the Middle East.”
About Perma-Pipe International Holdings, Inc.:
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH), also known as “Perma-Pipe” or the “Company,” is a global leader in pre-insulated piping and leak detection systems for various applications, including oil and gas, district heating and cooling, and more. With extensive engineering and fabrication expertise, Perma-Pipe delivers innovative piping solutions that address complex challenges in the safe and efficient transportation of liquids. The company operates from fifteen locations across six countries, reinforcing its global footprint in the industry.
Forward-Looking Statements:
This press release contains forward-looking statements as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and these statements are subject to certain risks and uncertainties. These statements should be considered in light of various risks, including but not limited to, the impact of COVID-19, fluctuations in oil and natural gas prices, and the company’s ability to comply with covenants and repay debt. Additional information regarding risks that may affect the company’s performance can be found in its filings with the Securities and Exchange Commission at https://www.sec.gov and on the Investor Center section of its website at http://investors.permapipe.com.
Perma-Pipe assumes no obligation to update any forward-looking statements made in this press release, whether as a result of new information, future events, or otherwise.
