Department of Infrastructure, Energy and Resources

Westcore Logistics places No, 3 on The Globe and Mail's fifth-annual ranking of Canada's Top Growing Companies.

Retrieved on: 
Tuesday, October 3, 2023

3 on the 2023 Report on Business ranking of Canada's Top Growing Companies.

Key Points: 
  • 3 on the 2023 Report on Business ranking of Canada's Top Growing Companies.
  • 1 on the ranking within British Columbia and the Logistics Sector.
  • Westcore Logistics is a niche player within the logistics sector and predominantly specializes in providing managed logistics solutions for clients engaged on large scale projects across the Infrastructure, Energy, and Renewables industry.
  • "It is an honour for our team to receive recognition from The Globe and Mail as one of Canada's rapidly growing companies.

Intersect Power Secures an Up to $800 Million Revolving Credit Facility to Support Expansion of its Clean Energy Platform

Retrieved on: 
Tuesday, June 27, 2023

HOUSTON, June 27, 2023 /PRNewswire/ -- Intersect Power, LLC, ("Intersect Power" or "Intersect"), announced the closing of an up to $800 million new revolving corporate credit facility to support its continued organizational growth and expansion of its clean energy platform.

Key Points: 
  • HOUSTON, June 27, 2023 /PRNewswire/ -- Intersect Power, LLC, ("Intersect Power" or "Intersect"), announced the closing of an up to $800 million new revolving corporate credit facility to support its continued organizational growth and expansion of its clean energy platform.
  • Additional banks participating in the facility include Joint Lead Arrangers, First Citizens Bank, and HSBC, as well as participating lender Celtic Bank Corporation.
  • "This deal is one of the largest of its kind ever done in the clean energy sector," said Intersect Power CEO Sheldon Kimber.
  • This new credit facility follows $1 billion in growth equity investment from TPG Rise Climate, CAI Investments, and Trilantic Energy Partners North America.

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.

Shawcor Receives Contract Award for Darwin Pipeline Duplication Project, Offshore Northern Australia

Retrieved on: 
Friday, September 9, 2022

TORONTO, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. (Shawcor or the Company) (TSX: SCL) today announced that its pipe coating division (Pipeline Performance Group or PPG) has been awarded a definitive contract by Allseas to provide anti-corrosion, internal flow coat, and concrete weight coatings for the Darwin Pipeline Duplication project, located offshore Northern Australia.

Key Points: 
  • TORONTO, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. (Shawcor or the Company) (TSX: SCL) today announced that its pipe coating division (Pipeline Performance Group or PPG) has been awarded a definitive contract by Allseas to provide anti-corrosion, internal flow coat, and concrete weight coatings for the Darwin Pipeline Duplication project, located offshore Northern Australia.
  • We believe this experience, combined with our market leading technology and highest quality standards, positions Shawcor to be a strong partner to Allseas.
  • As the worlds leading provider of offshore pipeline coating solutions, Shawcor is excited to be involved in this project.
  • Its three business segments, Composite Systems, Automotive & Industrial and Pipeline & Pipe Services enable responsible renewal and enhancement of critical infrastructure while lowering risk and environmental impact.

Shawcor Sells its Lake Superior Consulting Business

Retrieved on: 
Tuesday, September 6, 2022

TORONTO, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. (Shawcor or the Company) (TSX: SCL) announced that it has sold its Lake Superior Consulting (LSC) operating unit to a private investment group, including members of LSC management, in a transaction generating approximately C$8 million in gross proceeds.

Key Points: 
  • TORONTO, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. (Shawcor or the Company) (TSX: SCL) announced that it has sold its Lake Superior Consulting (LSC) operating unit to a private investment group, including members of LSC management, in a transaction generating approximately C$8 million in gross proceeds.
  • The LSC business, reported within the Companys Pipeline and Pipe Services (PPS) segment, offers engineering, consulting and field inspection services to the US onshore pipeline and broader energy infrastructure markets.
  • Shawcor Ltd. is a growth-oriented, global material sciences company serving the Infrastructure, Energy, and Transportation markets.
  • Its three business segments, Composite Systems, Automotive & Industrial and Pipeline & Pipe Services enable responsible renewal and enhancement of critical infrastructure while lowering risk and environmental impact.

Shawcor Releases 2021 Environmental, Social and Governance Report

Retrieved on: 
Tuesday, August 30, 2022

TORONTO, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. (Shawcor or the Company) (TSX: SCL) today announced the publication of its 2021 Environmental, Social, and Governance (ESG) report.

Key Points: 
  • TORONTO, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Shawcor Ltd. (Shawcor or the Company) (TSX: SCL) today announced the publication of its 2021 Environmental, Social, and Governance (ESG) report.
  • The report can be found on the Companys website at https://www.shawcor.com/about/esg .
  • Shawcor employees should be very proud of their accomplishments in these areas during 2021.
  • Shawcor Ltd. is a growth-oriented, global material sciences company serving the Infrastructure, Energy, and Transportation markets.