ShawCor Announces Contract To Provide Anticorrosion

Tag : anticorrosion coating

TORONTO, Jun 9, 2008 (Canada NewsWire via COMTEX) ----TSX: SCL.A,SCL.B
ShawCor Ltd. (TSX: SCL.A, SCL.B) today announced its subsidiary,Bredero Shaw, has received a contract with a value in excess of $20million to provide three layer anticorrosion and concrete weightcoating for the subsea crossing of Baydaratskaya Bay. The contracthas been awarded to Bredero Shaw Limited and will be executed atits coating facility in Leith, Scotland.

Baydaratskaya Bay is located in the southern part of the Kara Seaalong the coastline of the Yamal Peninsula in Northern Russia. Thiscontract will involve coating 20 km of 48" pipe and represents asection of one of several strategic pipelines that will move gasfrom the Yamal Peninsula to Europe.

ShawCor Ltd is an energy services company specialising in productsand services for the pipeline and pipe services and thepetrochemical and industrial segments of the oil and gas industry.The company operates through six divisions with over sixtymanufacturing and service facilities located around the world.

Bredero Shaw, ShawCor's largest division, is the global leader inpipe coating solutions. The division provides specialized coatingsystems and related services for corrosion protection, insulationand weight coating applications on land and marine pipelinesincluding highly engineered corrosion and insulation systems fordeepwater applications.
This news release contains forward-looking information within themeaning of applicable securities laws. Words such as "may", "will","should", anticipate", "plan", "expect", "believe", "predict","estimate" or similar terminology are used to identifyforward-looking information. This forward-looking information isbased on assumptions, estimates and analysis made in the light ofthe company's experience and its perception of trends, currentconditions and expected developments, as well as other factors thatare believed by the company to be reasonable and relevant in thecircumstances. Forward-looking information involves known andunknown risks, uncertainties and other factors which may causeactual results, performance or achievements to be materiallydifferent from those predicted, expressed or implied by theforward-looking information. The risks and uncertainties include,among other things, changes in global economic activity and changesin energy supply and demand which impact on the level of drillingactivity and pipeline construction; political, economic and otherrisks arising from international operations; compliance withenvironmental, trade and other laws; liability claims; fluctuationsin foreign exchange rates and fluctuations in raw material prices,as well as other risks and uncertainties that are more fullydescribed in the company's Annual Information Form, annual andquarterly reports and in other reports and filings made withsecurities regulatory authorities and available at www.sedar.com.
SOURCE: ShawCor Ltd.