- Perma-Pipe International Holdings (Nasdaq: PPIH) secures new project awards worth over $27 million.
- These projects span the Americas and MENA regions, enhancing their strong backlog position.
- Project demand is fueled by growth in data centers, pharmaceuticals, and industrial sectors.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has announced the acquisition of several new projects with a combined value exceeding $27 million, strategically spanning the Americas and the MENA region. These projects will leverage Perma-Pipe’s advanced anti-corrosion coating capabilities alongside their signature XTRU-THERM® insulation system.
The company’s new awards include provisions for anti-corrosion coating services specifically targeting the oil and gas markets in Western Canada and the UAE. Additionally, double-containment and pre-insulated piping solutions will be delivered for data center and industrial expansion projects located in the United States and Saudi Arabia.
This strategic growth is attributed to robust market demand, driven by the expansion of data centers, increased investments in the pharmaceutical and industrial sectors, and the rise of midstream energy projects. The management of Perma-Pipe views these new awards as significant milestones that enhance their already strong backlog position for the upcoming year, further cementing the company's market presence and capabilities.
David Mansfield, the CEO of Perma-Pipe, commented on the positive trajectory these awards signal for the company, highlighting their role in advancing Perma-Pipe's market strategy and reputation as a leader in the industry. The company’s ongoing focus on strategic product diversification and geographical expansion has opened up new markets and opportunities, further solidifying their trust with clients worldwide.
