Perma-Pipe International Holdings, Inc. has secured $6 million in new project awards in the MENA region, mainly supporting district energy infrastructure in the Gulf Cooperation Council (GCC) area. An additional $9 million in new awards in the Americas highlights growth momentum in the U.S. and Canadian markets.
These projects will leverage Perma-Pipe’s advanced anti-corrosion coating capabilities and the XTRU-THERM® insulation system—a spray-applied polyurethane foam encased in high-density polyethylene. As a result, the company’s project backlog has exceeded $100 million, a significant increase from $75 million as of July 31, 2024.
Marc Huber, Senior Vice President of Perma-Pipe Americas, expressed enthusiasm, noting the ongoing expansion in the Americas and strengthening market position in the U.S. and Canada. Similarly, Saleh Sagr, Senior Vice President for Perma-Pipe MENA, emphasized the new projects’ role in reinforcing Perma-Pipe’s leadership and reaching new customers in the MENA region.
President and CEO David Mansfield stated, “This growth aligns with our strategy to strengthen Perma-Pipe’s market position globally.”
About Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for the oil and gas, district heating and cooling, and various industrial applications. With engineering and fabrication expertise across 15 locations in six countries, Perma-Pipe offers solutions that ensure safe and efficient fluid transportation.
Forward-Looking Statements
This release contains forward-looking statements regarding expected future performance, growth, and project impact. Statements reflect current expectations but are subject to risks, including economic factors, material cost fluctuations, regulatory compliance, and operational uncertainties. Readers are advised to consider these factors in evaluating forward-looking statements and not to place undue reliance on them.
