Perma-Pipe International Holdings Announces Contract Awards in Excess of $23 Million

7 September 2023

PERMA-PIPE International Holdings, Inc. (Nasdaq: PPIH), has announced the acquisition of contracts totaling $23.5 million in the United Arab Emirates and Egypt. These contracts encompass custom coatings within the oil & gas sector, as well as the application of the XTRU-THERM® product in the district heating and cooling sector.

Saleh Sagr, Senior Vice President for PERMA-PIPE's Middle East and North Africa (MENA) region, expressed his satisfaction with these project awards. He highlighted the significance of these contracts, noting that in Egypt, they signify the success of the company's strategy to establish a strong presence in a burgeoning local market. In the UAE, the awards reaffirm the company's leading position in the market while presenting an opportunity to showcase their industry-leading products and services to a new customer.

David Mansfield, President, and CEO of PERMA-PIPE, expressed his satisfaction with the company's market position in Egypt and its ability to exhibit its capabilities in the recently established facilities in Abu Dhabi. This reflects the company's commitment to maintaining its market presence and demonstrating its expertise in the region.