Welcome to our dedicated page for Perma Pipe news (Ticker: PPIH), a resource for investors and traders seeking the latest updates and insights on Perma Pipe stock.
Perma-Pipe International Holdings Inc (PPIH) delivers engineered solutions for critical fluid management systems across energy, chemical, and industrial sectors. This dedicated news hub provides investors and industry professionals with timely updates on the company's technical advancements and market position.
Access official press releases covering new product developments, strategic partnerships, and operational milestones. Our curated collection includes updates on PPIH's specialty piping systems, leak detection innovations, and global project deployments while maintaining strict compliance with financial disclosure standards.
Key content categories include:
- Product & Technology Announcements: Innovations in insulated piping and containment systems
- Strategic Collaborations: Partnerships enhancing industrial safety standards
- Operational Updates: Manufacturing expansions and quality certifications
- Industry Recognition: Awards and acknowledgments for engineering excellence
Bookmark this page for streamlined access to verified information about PPIH's role in advancing infrastructure safety and efficiency. Check regularly for updates on engineered solutions serving energy distribution and hazardous material handling sectors.
Perma-Pipe International Holdings (Nasdaq: PPIH) has secured multiple projects worth over $27 million across the Americas and MENA region. The projects will utilize the company's anti-corrosion coating capabilities and XTRU-THERM® insulation system.
The awards include anti-corrosion coating services for oil and gas markets in Western Canada and UAE, as well as double-containment and pre-insulated piping solutions for data center and industrial expansion projects in the US and Saudi Arabia.
The company attributes this growth to increasing demand driven by market expansion in data centers, rising investments in pharmaceuticals and industrial sectors, and the expansion of midstream energy projects. Management views these awards as key milestones that complement their strong backlog position for the coming year.
Perma-Pipe International Holdings (Nasdaq: PPIH) announced CEO David Mansfield's retirement and the appointment of Saleh Sagr as President. Under Mansfield's eight-year tenure, the company achieved significant improvements in profitability, share price, and international expansion.
Sagr, who has served as Senior Vice President of the MENA region since June 2021, brings extensive experience in strategic planning and business development. Prior to joining Perma-Pipe in 2019, he co-founded Global Anti Corrosion Techniques Co. in Saudi Arabia.
In conjunction with these changes, Adham Samir Sharkawy will succeed Sagr as Senior Vice President of MENA. The company, a global leader in pre-insulated piping and leak detection systems, operates in fourteen locations across six countries.
Perma-Pipe International Holdings (Nasdaq: PPIH) announced that CEO David Mansfield will retire on or before November 8, 2025, after eight years of service. The company has appointed Saleh Sagr as President, who previously served as Senior Vice President of the MENA region since June 2021.
Under Mansfield's leadership, the company achieved significant improvements in profitability, share price, and international expansion. Mansfield will remain as CEO and director until retirement to ensure a smooth transition. Adham Samir Sharkawy will succeed Sagr as Senior Vice President of MENA.
Sagr brings extensive experience in strategic planning, business development, and turnarounds, having co-founded Global Anti Corrosion Techniques Co. and held various positions at BrederoShaw. He was also instrumental in establishing the joint venture with Gulf Insulation Group.
Perma-Pipe International Holdings (Nasdaq: PPIH) has announced the appointment of Jon C. Biro to its Board of Directors, effective March 4, 2025. Biro, 58, brings extensive financial and leadership experience, currently serving as Operating Advisor to Snow Peak Capital and board member for Sandy Alexander. His background includes CFO positions at Harte-Hanks, Exterran Holdings, and Consolidated Graphics.
CEO David Mansfield stated that Biro's appointment as an independent director will bring new financial expertise to fill the gap created by Ms. Boiter's earlier resignation. The company, a global leader in pre-insulated piping and leak detection systems, operates in fifteen locations across six countries.
Perma-Pipe International Holdings (Nasdaq: PPIH) has secured a significant contract award valued at over $43 million for a development project in the GCC region. The company will provide thermal insulation, anti-corrosion coatings, and related services from its Abu Dhabi facility, with project commencement scheduled for Q3 2025.
The project will utilize Perma-Pipe's anti-corrosion coatings capabilities, fabrication, and the TRACE-THERM® insulation system, featuring spray-applied polyurethane foam with high-density polyethylene casing. This award follows successful previous projects in the region and contributes to the company's record backlog position heading into 2025.
Perma-Pipe International Holdings (Nasdaq: PPIH) announced significant changes to its Board of Directors. Ibrahim Jaham Al Kuwari will join as Independent Director effective January 6, 2025, bringing extensive Middle East Gulf Region expertise. Current Independent Director Cynthia Boiter will resign effective May 1, 2025, while Chairman Jerome Walker will not seek re-election at the 2025 Annual Stockholders Meeting.
Al Kuwari, a Qatari national with significant business leadership experience, previously served as CEO of Qatar Solar Technologies (2018-2024) and Qatar Fuel (2014-2017), and as Deputy General Manager of Dolphin Energy (2005-2014). He holds a BS in Industrial and Systems Engineering from USC.
CEO David Mansfield acknowledged Boiter's contributions since 2019 in corporate governance and financial management, and Walker's role since 2014 in guiding the company's strategic repositioning and growth transformation.
Perma-Pipe International Holdings (NASDAQ: PPIH) reported Q3 2024 financial results with net sales of $41.6 million, down 9% from Q3 2023. Net income increased 29% to $2.5 million. Year-to-date net sales reached $113.4 million, up 3%, with net income growing 294% to $7.2 million.
The company's backlog reached a record $114.2 million, equivalent to approximately nine months of revenue, showing significant growth from $68.5 million in January 2024. This represents the highest backlog level since the company's transition from MFRI to Perma-Pipe in March 2017. The growth is driven by increased infrastructure spending in Saudi Arabia, India, and the U.A.E.
Perma-Pipe International Holdings (Nasdaq: PPIH) has secured new contracts worth $15 million across the Americas ($9 million) and MENA region ($6 million). The projects will utilize the company's anti-corrosion coatings and XTRU-THERM® insulation system technology. The company's backlog has grown significantly from $75.0 million in July 2024 to over $100.0 million currently. The MENA projects primarily focus on district energy infrastructure in the GCC region, while the Americas awards reflect market strength in the USA and Canada.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has secured three projects in the Americas region with a combined value exceeding $4 million USD. The projects will be executed in the company's facilities in Canada and the U.S. Two of the awards are for anticorrosion coating services in the western Canadian oil and gas market, while the third is for double-containment, pre-insulated piping solutions for a pharmaceutical plant expansion in the northeast U.S.
Marc Huber, Sr. Vice President for Perma-Pipe's Americas region, highlighted the strong demand for their services in North America. David Mansfield, President and CEO, emphasized the strategic importance of these awards for the company's growth in the region. Perma-Pipe International Holdings, Inc. is a global leader in pre-insulated piping and leak detection systems, operating in fifteen locations across six countries.
Perma-Pipe International Holdings (NASDAQ: PPIH) reported strong financial results for Q2 2024 and year-to-date. Net sales reached $37.5 million for Q2 (up 7% YoY) and $71.8 million YTD (up 11% YoY). Net income attributable to common stock was $3.3 million for Q2 (up 222% YoY) and $4.7 million YTD (compared to a $0.1 million loss in 2023).
The company's backlog grew to $75.5 million, a 10% increase from January 31, 2024. Additionally, PPIH secured over $46 million in new project awards after Q2. Gross profit margins improved significantly, reaching 36% in Q2 2024 compared to 27% in Q2 2023. The company attributes its success to increased sales volumes, better margin performance, and growing infrastructure spending in key markets like Saudi Arabia, India, and the U.A.E.
