Perma-Pipe International Holdings, Inc. Announces $15 Million in Contract Awards in the Americas and Middle East Regions

07.11.2024 - 06:00:36

Business Wire India

Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced $6 million in new project awards in the MENA region. Additionally, the company announced $9 million in new project awards in the Americas, demonstrating continual improvement in the region.

These new project awards will utilize Perma-Pipe’s anti-corrosion coatings capabilities and the XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing.

These new project awards further complement our backlog, which has experienced considerable growth. Backlog was $75.0 million at July 31, 2024 and is now in excess of $100.0 million.

Marc Huber, Sr. Vice President for Perma-Pipe’s Americas region, commented, “We are delighted with these awards which demonstrate the buoyancy in the Americas market and the continual strengthening of our position in the USA and Canada.”

Saleh Sagr, Sr. Vice President for Perma-Pipe’s MENA region, commented, “The latest awards in MENA largely serve the district energy infrastructure projects in the GCC region. These awards further confirm our leading market position and provide us the opportunity to demonstrate our industry-leading products and services to new customers”

David Mansfield, President and CEO, commented, “Growth in all regions has been part of our overall strategy, and we are proud to see this coming together, enabling Perma-Pipe to continue strengthening its leading market position.

Perma-Pipe International Holdings, Inc.

Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH, “Perma-Pipe”, or the “Company”) is a global leader in pre-insulated piping and leak detection systems for oil and gas, 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 fifteen locations in six countries.

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