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ShawCor Ltd. Announces the Election of a New Board Chair Virginia L. Shaw

Published on 2007-02-15. Author : SpecialChem

SHAWCOR LTD. (TSX: SCL.A, SCL.B) announced that its Board of Directors has elected Virginia L. Shaw to succeed her father, the late Leslie E. Shaw, as Chair of the Company.

Virginia Shaw has been a Director of the Company since April 1994 and became Vice Chair of the Board in August 2000. During her tenure on the Board, Ms. Shaw has played a proactive role in the oversight of the Company's strategy and long-term planning. She will continue to do so in her new role in addition to leading the activities of the Board of Directors. Control of the Shaw family's interest in the Company has been held by Ms. Shaw for many years in anticipation of an orderly succession.

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 six divisions with manufacturing and service facilities located around the world.

This news release contains forward-looking information within the meaning of applicable securities laws. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate" and similar terminology are used to identify forward-looking information. This forward-looking information is based on assumptions, estimates and analysis made in light of the company's experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. The risks and uncertainties include, among other things, changes in global economic activity and changes in energy supply and demand which impact on the level of drilling activity and pipeline construction; political, economic and other risks arising from international operations; compliance with environmental, trade and other laws; liability claims; fluctuations in foreign exchange rates and fluctuations in raw material prices, as well as other risks and uncertainties that are more fully described in the company's current Annual Information Form, annual and quarterly reports and in other reports and filings made with securities regulatory authorities and available at website.

Source: ShawCor Ltd.


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