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Perma-Pipe International Holdings Announces $6.0 Million Contract Awards in Egypt

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Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced its subsidiary Perma-Pipe Egypt has been awarded approximately $6.0 million in contracts by China State Construction Engineering Company (CSCEC) for the provision of thermally insulated pipe, field joints, and leak detection system for a district cooling network for the New Urban Communities Authority (NUCA), in the Central Business District of the New Administrative Capital of Egypt.

The project will utilize Perma-Pipe’s XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing. Prior to application of the insulation system, an anti-corrosion polyamide epoxy coating will be applied to the steel pipe in Perma-Pipe’s newly commissioned blasting and coating facility. Perma-Pipe will also be responsible for the supply, installation, and commissioning of Perma-Pipe’s own "PermAlert®" leak detection system for the insulated pipelines. The project will begin execution in Perma-Pipe’s facilities in Beni Suef, Egypt in Q4 2020.

Adham Sharkawy, General Manager for Perma-Pipe Egypt states, "Perma-Pipe looks forward to serving CSCEC and NUCA under Dar Al-Handasah’s supervision on this project and to continuing our role in providing infrastructure for construction of the New Administration Capital City project. We are pleased to see an increase in project opportunities in Egypt, and excited about the country’s potential and serving our customers moving forward."

Grant Dewbre, Sr. Vice President for Perma-Pipe’s MENA region states, "We are very appreciative that CSCEC placed their trust in Perma-Pipe to execute this project. We value our relationships with CSCEC, NUCA, and Dar Al-Handasah and look forward to starting our successful journey to providing our services to these companies."

David Mansfield, President and CEO commented, "We thank our customer for this award and we are pleased to see that the market in Egypt continues to develop, and that our decision to invest in that country was the right choice."

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 thirteen locations in six countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201204005615/en/

Contacts

David Mansfield, President and CEO
Perma-Pipe Investor Relations
847.929.1200
investor@permapipe.com