Perma-Pipe International Holdings Announces Expansion into Egypt and Egyptian Contract Awards
June 03 2019 - 12:19PM
Business Wire
PPIH to establish a new production facility
in Beni Suef, Egypt to meet the demands for Perma-Pipe
products.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today
announced that its subsidiary company Perma-Pipe Middle East FZC
has established a subsidiary company in the Arab Republic of Egypt,
“Perma-Pipe Egypt” and is in the process of establishing a new
production facility in Beni Suef, south of Cairo. The establishment
of this new capability is in response to a growing demand for
Perma-Pipe’s products in Egypt, particularly strong demands for the
Company’s chilled water and containment piping and leak detection
systems. The facility is planned to be operational by July,
2019.
Perma-Pipe further confirms multiple awards by Egyptian
companies related to projects in Egypt’s New Capital City and
elsewhere which will be carried out in Perma-Pipe’s existing
facilities in the UAE and Saudi Arabia and in the new facility in
Beni Suef after it is operational.
Grant Dewbre, Sr. Vice President for Perma-Pipe’s MENA region
states: “We are very excited about this long-planned geographical
expansion into Egypt. Our relationships with Egyptian construction
companies, consulting engineering companies, and other stakeholders
have allowed us to bring our products and services to our customers
in Egypt. We are very proud to be investing in Egypt and playing
our part to develop Egypt’s infrastructure that is being invested
in heavily. It is our hope that we can better meet the demands of
our Egyptian customers by investing in the country, and we look
forward to the beginning of a long presence there. Congratulations
to Adham Sharkawy, Perma-Pipe Egypt’s General Manager and his team
for their leadership and diligent efforts in bringing this
aspiration to reality.”
President and CEO David Mansfield commented: “Perma-Pipe is
always looking for opportunities to expand to meet the needs of our
customers. This expansion has long been a priority for us since it
will enable us to offer our full range of capabilities to the
Egyptian market. We look forward to serving our Egyptian customers
with greater speed and flexibility through our local presence. We
are committed to the success of the new facility in Egypt and to
being part of the growth already being experienced there.”
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 seven locations in
five countries.
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version on businesswire.com: https://www.businesswire.com/news/home/20190603005638/en/
Perma-Pipe International Holdings, Inc.David
Mansfield, President and CEOPerma-Pipe Investor
Relations847.929.1200investor@permapipe.com
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