Friday, February 18, 2022
10:03 AM EST – Shawcor Ltd. : Announced that its pipe coating division has been awarded a three-year contract with Vallourec S.A. to apply the unique LotusFlo® technology to offshore downhole production tubulars designed for the Buzios oilfields. The Buzios oilfields are located off the coast of Brazil and operated by Petróleo Brasileiro S.A. With this award, Shawcor will increase its total current orders for this technology, including additional orders in the Gulf of Mexico market, to a range of $18 million-$25 million. The work will be executed out of Shawcor’s Channelview facility and is expected to commence in the fourth quarter of 2022, continuing over a multi-year period on an as-needed basis. Shawcor Ltd.
(T.SCL) shares were down $0.08 at 5.93.
Stocks in Play: Shawcor Ltd., Fri, 18 Feb 2022 10:12:06 EST