Perma Pipe Stock Price, News & Analysis

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.