Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has announced a significant contract award for a development project in the Gulf Cooperation Council (GCC) region.
The company will provide thermal insulation, anti-corrosion coatings, and related services from its Abu Dhabi facility, with the project valued at over US$43 million.
The project, set to commence in the third quarter of 2025, will utilise Perma-Pipe’s advanced anti-corrosion coatings capabilities, fabrication expertise, and the TRACE-THERM insulation system.
This system features spray-applied polyurethane foam jacketed with high-density polyethylene casing.
Saleh Sagr, Senior Vice President for Perma-Pipe’s MENA region, expressed satisfaction with the award, stating: “This award follows the successful execution of numerous development projects in the region.
“Our differentiated coating solutions have proven to be well-suited for technically challenging projects.”
David Mansfield, President and CEO of Perma-Pipe, highlighted the strategic importance of this contract, stating: “This award provides evidence that our technologies are well-positioned to meet the complex requirements in virtually all geographies as we continue our focus on highly active oil and gas markets worldwide.”
The new contract contributes to Perma-Pipe’s record backlog position heading into 2025, reflecting an increase in large-scale project activity globally.
This development underscores the company’s strong market position and technological capabilities in the oil and gas sector.
Perma-Pipe International Holdings, Inc., a global leader in pre-insulated piping and leak detection systems, continues to leverage its engineering and fabrication expertise to provide innovative solutions for complex challenges in the transportation of various liquids.
