Perma-Pipe International Holdings, Inc., announces new project awards in the Americas and MENA region
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) ha ottenuto numerosi progetti del valore di oltre $27 milioni in tutta l'America e nella regione MENA. I progetti sfrutteranno le capacità di rivestimento anti-corrosione dell'azienda e il sistema di isolamento XTRU-THERM®.
I contratti includono servizi di rivestimento anti-corrosione per i mercati petrolifero e del gas in Canada occidentale e negli Emirati Arabi Uniti, oltre a soluzioni di tubazioni a doppia contenimento e pre-isolate per progetti di espansione di data center e industriali negli Stati Uniti e in Arabia Saudita.
L'azienda attribuisce questa crescita alla crescente domanda derivante dall'espansione del mercato dei data center, all'aumento degli investimenti nei settori farmaceutico e industriale, e all'espansione dei progetti energetici midstream. La direzione considera questi riconoscimenti come tappe fondamentali che completano la loro solida posizione di arretrati per il prossimo anno.
Perma-Pipe International Holdings (Nasdaq: PPIH) ha asegurado múltiples proyectos por un valor superior a $27 millones en las Américas y la región MENA. Los proyectos utilizarán las capacidades de recubrimiento anticorrosión de la empresa y el sistema de aislamiento XTRU-THERM®.
Los contratos incluyen servicios de recubrimiento anticorrosión para los mercados de petróleo y gas en el oeste de Canadá y los Emiratos Árabes Unidos, así como soluciones de tuberías de doble contención y preaisladas para proyectos de expansión de centros de datos e industriales en EE. UU. y Arabia Saudita.
La empresa atribuye este crecimiento a la creciente demanda impulsada por la expansión del mercado de centros de datos, el aumento de inversiones en los sectores farmacéutico e industrial, y la expansión de proyectos energéticos midstream. La dirección considera estos premios como hitos clave que complementan su sólida posición de backlog para el próximo año.
Perma-Pipe International Holdings (Nasdaq: PPIH)는 아메리카 및 MENA 지역에서 $27 백만 이상의 가치가 있는 여러 프로젝트를 확보했습니다. 이 프로젝트들은 회사의 방청 코팅 능력과 XTRU-THERM® 단열 시스템을 활용할 것입니다.
수상 내역에는 캐나다 서부와 아랍 에미리트의 석유 및 가스 시장을 위한 방청 코팅 서비스와 미국 및 사우디아라비아의 데이터 센터 및 산업 확장 프로젝트를 위한 이중 차단 및 사전 절연 배관 솔루션이 포함됩니다.
회사는 데이터 센터의 시장 확장, 제약 및 산업 부문에 대한 투자 증가, 중간 에너지 프로젝트의 확장에 의해 촉발된 수요 증가 덕분에 이러한 성장을 설명합니다. 경영진은 이러한 수상을 향후 1년 동안의 강력한 백로그 위치를 보완하는 주요 이정표로 보고 있습니다.
Perma-Pipe International Holdings (Nasdaq: PPIH) a obtenu plusieurs projets d'une valeur de plus de 27 millions de dollars à travers les Amériques et la région MENA. Les projets tireront parti des capacités de revêtement anticorrosion de l'entreprise et du système d'isolation XTRU-THERM®.
Les contrats incluent des services de revêtement anticorrosion pour les marchés pétroliers et gaziers dans l'Ouest canadien et aux Émirats arabes unis, ainsi que des solutions de tuyauterie à double confinement et pré-isolées pour des projets d'expansion de centres de données et industriels aux États-Unis et en Arabie Saoudite.
L'entreprise attribue cette croissance à la demande croissante, alimentée par l'expansion du marché des centres de données, l'augmentation des investissements dans les secteurs pharmaceutiques et industriels, et l'expansion des projets énergétiques midstream. La direction considère ces récompenses comme des étapes clés qui complètent leur solide position de carnet de commandes pour l'année à venir.
Perma-Pipe International Holdings (Nasdaq: PPIH) hat mehrere Projekte im Wert von über 27 Millionen US-Dollar in Amerika und der MENA-Region gesichert. Die Projekte werden die Antikorrosionsbeschichtungsfähigkeiten des Unternehmens und das Isolationssystem XTRU-THERM® nutzen.
Zu den Aufträgen gehören Antikorrosionsbeschichtungsdienste für die Öl- und Gasmärkte in Westkanada und den VAE sowie Lösungen für doppelte containment und vorisolierte Rohrleitungen für Datenzentrums- und Industrieexpansionsprojekte in den USA und Saudi-Arabien.
Das Unternehmen führt dieses Wachstum auf die steigende Nachfrage zurück, die durch die Marktexpansion in Datenzentren, steigende Investitionen in die Pharma- und Industriesektoren sowie die Expansion von Midstream-Energieprojekten vorangetrieben wird. Das Management betrachtet diese Auszeichnungen als wichtige Meilensteine, die ihre starke Auftragslage für das kommende Jahr ergänzen.
- Secured new projects worth over $27 million
- Strong backlog position for the coming year
- Geographic diversification across multiple regions
- Market expansion into growing sectors (data centers, pharmaceuticals, industrial)
- None.
Insights
Perma-Pipe's announcement of $27 million in new project awards represents a significant business development, equating to approximately
The project diversification across both geography (Americas and MENA region) and sectors (oil & gas, data centers, industrial) provides revenue stability while reducing market-specific risks. The company's strategic positioning in growth markets—particularly data centers and industrial expansion—creates multiple revenue streams and suggests healthy business momentum.
Management's comments about these awards complementing an "already strong backlog" indicates positive business trajectory leading into these new contracts. The company appears to be successfully executing its stated strategy of product diversification and geographical expansion, which has apparently opened new markets and customer opportunities.
For a specialized industrial company like Perma-Pipe, securing multi-million dollar contracts across four countries (US, Canada, UAE, Saudi Arabia) validates both their technical capabilities and international market position. The company's focus on high-value infrastructure projects in energy and data centers positions them in sectors with continued capital investment, potentially providing revenue visibility beyond these immediate contract awards.
These projects will utilize Perma-Pipe’s anti-corrosion coating capabilities, and the XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing.
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Multiple awards for the provision of anticorrosion coating services for the oil and gas markets in
Western Canada and theU.A.E. -
Multiple awards for the provision of double-containment and pre-insulated piping solutions for data center and industrial expansion projects in the
U.S. andSaudi Arabia
Marc Huber, Senior Vice President of Perma-Pipe’s
Saleh Sagr, President, stated, “The consistent influx of new awards and expanding backlog clearly demonstrates the trust our clients have in our products and services. Our strategic product diversification and geographical expansion have been vital in driving this growth, opening new markets, and ensuring our continued success.”
David
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 fourteen locations in six countries.
Forward-Looking Statements
Certain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus ("COVID-19") on the Company's results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company's products; (iii) the Company's ability to comply with all covenants in its credit facilities; (iv) the Company’s ability to repay its debt and renew expiring international credit facilities; (v) the Company’s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Company’s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Company’s products; (ix) decreases in government spending on projects using the Company’s products, and challenges to the Company’s non-government customers’ liquidity and access to capital funds; (x) the Company’s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Company’s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Company’s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Company’s backlog; (xv) the Company's ability to collect an account receivable related to a project in the
View source version on businesswire.com: https://www.businesswire.com/news/home/20250409891974/en/
Perma-Pipe International Holdings, Inc.
David
Perma-Pipe Investor Relations
847.929.1200
investor@permapipe.com
Source: Perma-Pipe International Holdings, Inc.
FAQ
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