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ShawCor Ltd. announces an agreement to provide coating services at OREGON Steel Mills pipe mill in Portland, Oregon

Published on 2006-03-06. Author : SpecialChem

TORONTO -- ShawCor Ltd. (TSX: SCL.SV.A - News, SCL.MV.B - News) announced that an agreement has been signed by its Bredero Shaw division to establish a pipe coating facility adjacent to the Oregon Steel Mills, Inc. ("Oregon Steel") large diameter line pipe mill under construction in Portland, Oregon.

The agreement between Bredero Shaw and Oregon Steel contains provisions whereby Bredero Shaw will supply coating services for fusion bond epoxy corrosion coatings and internal linings, in exchange for the exclusive right to provide Oregon Steel with all of its coating requirements at the new pipe mill, the use of land and buildings at the facility and the provision of pipe handling services. The coating line will be installed adjacent to Oregon Steel's new 60 inch API large diameter pipe manufacturing mill that is currently under construction. Oregon Steel has advised that the pipe mill is expected to begin producing pipe in July 2006.

It is expected that there will be a significant increase in large diameter pipeline construction in North America during the next few years and Bredero Shaw is extremely pleased to make this investment, which highlights the division's commitment to the large diameter pipe coating market in the United States.

ShawCor Ltd. is an energy services company specializing in products and services for the pipeline, and pipe services, and petrochemical and industrial segments of the oil and gas industry and other industrial markets. Bredero Shaw is ShawCor's largest division and is the global leader in pipe coating solutions, employing 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 document contains forward looking statements, which are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in such statements.

Source: ShawCor Ltd.


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