Perma-Pipe International Holdings Announces Contract Award in Excess of $4.5 Million in Canada

By: Perma-Pipe International Holdings, Inc. via Business Wire

May 10, 2021 at 10:55 AM EDT

Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced it has been awarded a contract for a district heating and cooling network for a healthcare infrastructure project in Eastern Canada valued at over $4.5 million.

The project will utilize Perma-Pipe’s premier engineered Multi-Therm^® high temperature pre-insulated pipe system. The Multi-Therm^® system consists of a galvanized and insulated steel carrier pipe enclosed by an outer insulated steel pipe protected by a fiberglass reinforced outer jacket. The project will begin execution in Perma-Pipe’s facility in Lebanon, Tennessee in Q2 2021.

Brad Schultz, General Manager for Perma-Pipe United States commented, “Perma-Pipe looks forward to participating in such a strategic redevelopment of the healthcare infrastructure in Eastern Canada. The Multi-Therm^® pre-insulated pipe system has been supplied to many customers and projects throughout the United States and Canada and this project demonstrates our leadership position in this market.”

David Mansfield, President and CEO commented, "Our diverse group of premier engineered products have broad applications that are proven to address customer needs. We are confident in our ability to continue to provide these quality products and in serving our customers’ expectations. We thank our customer for this award which reinforces our commitment to establishing ‘Partners in Excellence.’”

Perma-Pipe International Holdings, Inc.

Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at thirteen locations in six countries.