Investing.com
Summary
Perma-Pipe International Holdings, Inc. has been awarded a contract exceeding $43 million for a development project in the Gulf Cooperation Council (GCC) region. The company, known for its pre-insulated piping and leak detection systems, will provide thermal insulation and anti-corrosion coatings from its Abu Dhabi facility, with project initiation slated for the third quarter of 2025.
The awarded project will involve Perma-Pipe's anti-corrosion coatings capabilities, fabrication services, and the TRACE-THERM® insulation system, which is a spray-applied polyurethane foam encased in high-density polyethylene. The company maintains a healthy financial position with a current ratio of 1.94, indicating strong ability to meet short-term obligations.
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