Cognitive Constraints on Compositional Systems

Shawcor Rebrands to Mattr, a Materials Technology Company Serving Critical Infrastructure Markets Globally

Retrieved on: 
Wednesday, June 7, 2023

TORONTO, June 07, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd. (TSX: SCL) today announced that it has rebranded to Mattr (legal name: Shawcor Ltd., dba Mattr Infratech) herein referred to as “Mattr” or the “Company”, reflecting its transformation from an energy services organization, into a materials technology company, providing differentiated, high-performance products to critical infrastructure markets around the world.

Key Points: 
  • TORONTO, June 07, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd. (TSX: SCL) today announced that it has rebranded to Mattr (legal name: Shawcor Ltd., dba Mattr Infratech) herein referred to as “Mattr” or the “Company”, reflecting its transformation from an energy services organization, into a materials technology company, providing differentiated, high-performance products to critical infrastructure markets around the world.
  • Effective today, trading of Mattr’s common stock on the Toronto Stock Exchange will be quoted under the ticker symbol TSX: MATR.
  • As part of the rebrand, the Company has launched a beta of its new website that can be accessed at www.mattr.com .
  • The Shawcor name will continue to be used as a brand name for the pipe coating business within this segment.

Shawcor Sells Its Shaw Pipeline Services Business

Retrieved on: 
Thursday, June 1, 2023

TORONTO, June 01, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced today that it has sold its Shaw Pipeline Services (“SPS”) operating unit to a US-based investor group which includes Achieve Capital LLC and members of current SPS management.

Key Points: 
  • TORONTO, June 01, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced today that it has sold its Shaw Pipeline Services (“SPS”) operating unit to a US-based investor group which includes Achieve Capital LLC and members of current SPS management.
  • This transaction resulted from the Company’s previously announced strategic review process.
  • With this sale, the Company’s Pipeline and Pipe Services (“PPS”) segment will consist entirely of the Pipeline Performance Group (“PPG”) operating unit, for which a previously communicated strategic review process is ongoing.
  • “We deeply appreciate the many contributions of those employees who work within SPS and firmly believe this pending transaction will position them for future success.”
    SPS is a provider of non-destructive, ultrasonic and radiographic pipeline girth weld inspection technology and services to the North American onshore and global offshore pipeline markets.

Shawcor Ltd. Announces First Quarter 2023 Results

Retrieved on: 
Thursday, May 11, 2023

Adjusted EBITDA1 in the first quarter of 2023 was $26.7 million, a 79% increase compared to $15.0 million in the first quarter of 2022.

Key Points: 
  • Adjusted EBITDA1 in the first quarter of 2023 was $26.7 million, a 79% increase compared to $15.0 million in the first quarter of 2022.
  • The Company expects performance in the second quarter of 2023 to approach the levels experienced in the first quarter of the year.
  • Consistent with normal customer re-stocking cycles, the Company expects the first quarter to be the strongest quarter of 2023 for its Automotive and Industrial segment.
  • Shawcor will be hosting a Shareholder and Analyst Conference Call and Webcast on Friday, May 12th, 2023, at 9:00 AM ET, which will discuss the Company’s First Quarter 2023 Financial Results.

Shawcor Invests in Two New Composite Systems Facilities, Enhancing Production Capacity and Efficiency

Retrieved on: 
Wednesday, April 26, 2023

TORONTO, April 26, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced today that it will be expanding its Composite Systems segment production capabilities in the US, with commitments for two new operating facilities.

Key Points: 
  • TORONTO, April 26, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced today that it will be expanding its Composite Systems segment production capabilities in the US, with commitments for two new operating facilities.
  • Capital expenditures for these operating facilities are expected to represent, in the aggregate, approximately $60 million across 2023 and 2024.
  • The 2023 portion of these organic growth investments form a part of the Company’s previously communicated capital expenditure guidance of $160-$180 million for the current year.
  • “These substantial organic investments are an important part of our overall strategy to elevate returns for the entire organization,” said Martin Perez, President of Shawcor’s Composite Systems segment.

Shawcor Acquires Triton Stormwater Solutions and Vertically Integrates Stormwater Management Solution

Retrieved on: 
Wednesday, March 1, 2023

TORONTO, March 01, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced that it has acquired the assets of Triton Stormwater Solutions, a privately owned provider of highly engineered, lightweight, composite materials-based underground infiltration chamber products, used primarily within stormwater management solutions.

Key Points: 
  • TORONTO, March 01, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd. (“Shawcor” or the “Company”) (TSX: SCL) announced that it has acquired the assets of Triton Stormwater Solutions, a privately owned provider of highly engineered, lightweight, composite materials-based underground infiltration chamber products, used primarily within stormwater management solutions.
  • “The acquisition of Triton Stormwater Solutions’ technology portfolio allows Shawcor to further expand our ability to offer a complete, composite materials based, stormwater management solution,” said Martin Perez, President of Shawcor’s Composite Systems segment.
  • We are excited to take the next step to combine Triton Stormwater Solutions’ technologies with Shawcor’s ability to scale.”
    Triton Stormwater Solutions provides customers with world-class stormwater products, customer service and manufacturing processes.
  • In 2022, Triton Stormwater Solutions generated approximately US$8 million in revenue.

Shawcor Sells its Oilfield Asset Management Business

Retrieved on: 
Friday, November 18, 2022

TORONTO, Nov. 18, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. (Shawcor or the Company) (TSX: SCL) announced that it has sold its Oilfield Asset Management (OAM) operating unit to Force Inspection Services Inc. (Force), in a transaction generating at least C$15 million in gross proceeds.

Key Points: 
  • TORONTO, Nov. 18, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. (Shawcor or the Company) (TSX: SCL) announced that it has sold its Oilfield Asset Management (OAM) operating unit to Force Inspection Services Inc. (Force), in a transaction generating at least C$15 million in gross proceeds.
  • Shawcor will retain OAM related Western Canadian real-estate assets which it may elect to sell at a future date.
  • The OAM business, reported within the Companys Composite Systems (CS) segment, is a provider of downhole tubular inspection, repair and inventory management services to the Western Canadian energy market.
  • In September we announced our intent to review strategic alternatives for three operating units, including the Oilfield Asset Management business, said Mike Reeves, President and CEO of Shawcor.

TSX Approves Shawcor’s Normal Course Issuer Bid

Retrieved on: 
Wednesday, September 21, 2022

TORONTO, Canada, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. ("Shawcor" or the "Company"), (TSX: SCL) today announced that the Toronto Stock Exchange (the TSX) has approved the Companys notice of intention to commence a normal course issuer bid (the Bid) for common shares of the Company (the Common Shares).

Key Points: 
  • TORONTO, Canada, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. ("Shawcor" or the "Company"), (TSX: SCL) today announced that the Toronto Stock Exchange (the TSX) has approved the Companys notice of intention to commence a normal course issuer bid (the Bid) for common shares of the Company (the Common Shares).
  • Pursuant to the Bid, Shawcor may purchase for cancellation up to 5,685,630 Common Shares, representing approximately 10% of Shawcors public float (the Maximum).
  • The Bid will commence on or about September 26, 2022 and terminate one year after its commencement, or earlier if the Maximum is reached or the Bid is terminated at the option of the Company.
  • The Bid will be funded using existing cash resources and any Common Shares repurchased by the Company under the Bid will be cancelled.

Shawcor Announces Normal Course Issuer Bid

Retrieved on: 
Friday, September 16, 2022

TORONTO, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. ("Shawcor" or the "Company"), (TSX: SCL) today announced that it has filed a notice of intention with the Toronto Stock Exchange (the TSX) to commence a normal course issuer bid (the Bid) for common shares of the Company (the Common Shares), the implementation of which remains subject to TSX approval.

Key Points: 
  • TORONTO, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. ("Shawcor" or the "Company"), (TSX: SCL) today announced that it has filed a notice of intention with the Toronto Stock Exchange (the TSX) to commence a normal course issuer bid (the Bid) for common shares of the Company (the Common Shares), the implementation of which remains subject to TSX approval.
  • Pursuant to the Bid, Shawcor intends to purchase for cancellation up to 10% of Shawcors public float, subject to a maximum of C$25 million in aggregate repurchases of Common Shares based on the actual price paid for such repurchased Common Shares pursuant to the Bid (the Maximum).
  • If the notice is accepted by the TSX, Shawcor intends to commence the Bid on or about September 28, 2022 and the Bid will terminate one year after its commencement, or earlier if the Maximum is reached or the Bid is terminated at the option of the Company.
  • The Bid will be funded using existing cash resources and any Common Shares repurchased by the Company under the Bid will be cancelled.

Shawcor to Rebrand and Focus on Leadership in Infrastructure Technology as it Explores Strategic Alternatives for Several Oilfield Businesses

Retrieved on: 
Monday, September 12, 2022

Concurrently, the Company has commenced a review of strategic alternatives for its Pipeline Performance Group (PPG), Shaw Pipeline Services (SPS) and Oilfield Asset Management (OAM) operating units.

Key Points: 
  • Concurrently, the Company has commenced a review of strategic alternatives for its Pipeline Performance Group (PPG), Shaw Pipeline Services (SPS) and Oilfield Asset Management (OAM) operating units.
  • A range of options are under consideration, including the potential sale of all three operating units.
  • Since early 2020, Shawcor has successfully divested multiple non-core businesses and other assets, generating nearly $200 million of cash proceeds.
  • Shawcor Ltd. is a growth-oriented, global material sciences company serving the Infrastructure, Energy, and Transportation markets.