Perma-Pipe Wins $30 Million in Contracts, Gets Saudi Approval for Expansion; Shares Rise

MT Newswires Live

09/25

Perma-Pipe International (PPIH) announced $30 million in new global project contracts and said its Saudi Arabian unit won approval from Saudi Aramco to expand into the pipe coating market.

The Saudi unit received formal technical and commercial approval to serve the oil and gas sector directly, expanding from its existing district heating and cooling business, the company said Wednesday in a statement.

Perma-Pipe shares rose 7% in recent Wednesday trading.

Price: 24.00, Change: +1.57, Percent Change: +7.00

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