{"id":786985,"date":"2023-09-28T20:21:50","date_gmt":"2023-09-29T00:21:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/perma-pipe-international-holdings-inc-announces-opening-of-a-new-state-of-the-art-insulation-facility-in-canada\/"},"modified":"2023-09-28T20:21:50","modified_gmt":"2023-09-29T00:21:50","slug":"perma-pipe-international-holdings-inc-announces-opening-of-a-new-state-of-the-art-insulation-facility-in-canada","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/perma-pipe-international-holdings-inc-announces-opening-of-a-new-state-of-the-art-insulation-facility-in-canada\/","title":{"rendered":"Perma-Pipe International Holdings, Inc., announces opening of a new state-of-the-art insulation facility in Canada"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Perma-Pipe International Holdings, Inc., announces opening of a new state-of-the-art insulation facility in Canada<\/b><\/p>\n<p>SPRING, Texas&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is pleased to announce the opening of its second pipe insulating facility in Canada. Strategically located outside of Ottawa, Ontario the new plant will focus primarily on serving the Ontario, Quebec, and Atlantic Canada markets. With the support of our existing plant in Camrose, Alberta, Perma-Pipe is well positioned to provide our valued customers across Canada with top-quality insulation systems.<\/p>\n<p>\nThe new 37,000 square foot facility sits on three acres and is equipped with state-of-the-art pipe insulating technology that will significantly increase the Company\u2019s production capacity. The plant can produce a diverse range of pipe insulating products for pipe sizes ranging from three quarters of an inch to thirty inches. Further, the plant has been designed to seamlessly apply insulating foam and protective polyethylene outer jackets in a wide range of thickness to meet unique customer specifications.<\/p>\n<p>\nDave Mansfield, President and CEO at Perma-Pipe stated, \u201cThis facility is a major investment for Perma-Pipe, and we are proud to contribute to Ottawa\u2019s local economy by creating job opportunities through this strategic expansion. Additionally, we are excited to bring our industry-leading services and products closer to current and prospective customers in Eastern Canada, ensuring they have access to the highest quality pipe insulation solutions.\u201d<\/p>\n<p><b>Perma-Pipe International Holdings, Inc.<\/b><\/p>\n<p>\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH, \u201cPerma-Pipe\u201d, or the \u201cCompany\u201d) is a global leader in pre-insulated piping and leak detection systems for oil and gas, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at fifteen locations in six countries.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nCertain statements and other information contained in this press release that can be identified by the use of forward-looking terminology constitute \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby, including, without limitation, statements regarding the expected future performance and operations of the Company. These statements should be considered as subject to the many risks and uncertainties that exist in the Company&#8217;s operations and business environment. Such risks and uncertainties include, but are not limited to, the following: (i) the impact of the coronavirus (&#8220;COVID-19&#8221;) on the Company&#8217;s results of operations, financial condition and cash flows; (ii) fluctuations in the price of oil and natural gas and its impact on the customer order volume for the Company&#8217;s products; (iii) the Company&#8217;s ability to comply with all covenants in its credit facilities; (iv) the Company\u2019s ability to repay its debt and renew expiring international credit facilities; (v) the Company\u2019s ability to effectively execute its strategic plan and achieve profitability and positive cash flows; (vi) the impact of global economic weakness and volatility; (vii) fluctuations in steel prices and the Company\u2019s ability to offset increases in steel prices through price increases in its products; (viii) the timing of order receipt, execution, delivery and acceptance for the Company\u2019s products; (ix) decreases in government spending on projects using the Company\u2019s products, and challenges to the Company\u2019s non-government customers\u2019 liquidity and access to capital funds; (x) the Company\u2019s ability to successfully negotiate progress-billing arrangements for its large contracts; (xi) aggressive pricing by existing competitors and the entrance of new competitors in the markets in which the Company operates; (xii) the Company\u2019s ability to purchase raw materials at favorable prices and to maintain beneficial relationships with its suppliers; (xiii) the Company\u2019s ability to manufacture products free of latent defects and to recover from suppliers who may provide defective materials to the Company; (xiv) reductions or cancellations of orders included in the Company\u2019s backlog; (xv) the Company&#8217;s ability to collect an account receivable related to a project in the Middle East; (xvi) risks and uncertainties related to the Company&#8217;s international business operations; (xvii) the Company\u2019s ability to attract and retain senior management and key personnel; (xviii) the Company\u2019s ability to achieve the expected benefits of its growth initiatives; (xix) the Company\u2019s ability to interpret changes in tax regulations and legislation; (xx) the Company&#8217;s ability to use its net operating loss carryforwards; (xxi) reversals of previously recorded revenue and profits resulting from inaccurate estimates made in connection with the Company\u2019s percentage-of-completion revenue recognition; (xxii) the Company\u2019s failure to establish and maintain effective internal control over financial reporting; and (xxiii) the impact of cybersecurity threats on the Company\u2019s information technology systems. Shareholders, potential investors, and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.sec.gov&amp;esheet=53566084&amp;newsitemid=20230928316074&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.sec.gov&amp;index=1&amp;md5=96429ea8ddfda0372b95a6f4a1a18089\">https:\/\/www.sec.gov<\/a> and under the Investor Center section of our website (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Finvestors.permapipe.com&amp;esheet=53566084&amp;newsitemid=20230928316074&amp;lan=en-US&amp;anchor=http%3A%2F%2Finvestors.permapipe.com&amp;index=2&amp;md5=85e65de4276968ec4d6e607880a10890\">http:\/\/investors.permapipe.com<\/a>).<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230928316074r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230928316074\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230928316074\/en\/<\/a><\/span><\/p>\n<p><b>Perma-Pipe International Holdings, Inc.<br \/>\n<\/b><br \/><b>David Mansfield, President and CEO<br \/>\n<\/b><\/p>\n<p><b>Perma-Pipe<\/b><b>Investor Relations<br \/>\n<\/b><br \/><b>847.929.1200<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:investor@permapipe.com\"><b>investor@permapipe.com<\/b><\/a><\/p>\n<p><b>KEYWORDS:<\/b> Texas United States North America Canada<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Oil\/Gas Other Manufacturing Energy Machinery HVAC Engineering Chemicals\/Plastics Manufacturing<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230928316074\/en\/761552\/3\/PP_LOGO_2.5_INCH_For_Docs.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Perma-Pipe International Holdings, Inc., announces opening of a new state-of-the-art insulation facility in Canada SPRING, Texas&#8211;(BUSINESS WIRE)&#8211; Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is pleased to announce the opening of its second pipe insulating facility in Canada. Strategically located outside of Ottawa, Ontario the new plant will focus primarily on serving the Ontario, Quebec, and Atlantic Canada markets. With the support of our existing plant in Camrose, Alberta, Perma-Pipe is well positioned to provide our valued customers across Canada with top-quality insulation systems. The new 37,000 square foot facility sits on three acres and is equipped with state-of-the-art pipe insulating technology that will significantly increase the Company\u2019s production capacity. The plant can produce a diverse range of pipe insulating products &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/perma-pipe-international-holdings-inc-announces-opening-of-a-new-state-of-the-art-insulation-facility-in-canada\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Perma-Pipe International Holdings, Inc., announces opening of a new state-of-the-art insulation facility in Canada&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-786985","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Perma-Pipe International Holdings, Inc., announces opening of a new state-of-the-art insulation facility in Canada - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/perma-pipe-international-holdings-inc-announces-opening-of-a-new-state-of-the-art-insulation-facility-in-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Perma-Pipe International Holdings, Inc., announces opening of a new state-of-the-art insulation facility in Canada - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Perma-Pipe International Holdings, Inc., announces opening of a new state-of-the-art insulation facility in Canada SPRING, Texas&#8211;(BUSINESS WIRE)&#8211; Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is pleased to announce the opening of its second pipe insulating facility in Canada. Strategically located outside of Ottawa, Ontario the new plant will focus primarily on serving the Ontario, Quebec, and Atlantic Canada markets. With the support of our existing plant in Camrose, Alberta, Perma-Pipe is well positioned to provide our valued customers across Canada with top-quality insulation systems. The new 37,000 square foot facility sits on three acres and is equipped with state-of-the-art pipe insulating technology that will significantly increase the Company\u2019s production capacity. 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(Nasdaq: PPIH) is pleased to announce the opening of its second pipe insulating facility in Canada. Strategically located outside of Ottawa, Ontario the new plant will focus primarily on serving the Ontario, Quebec, and Atlantic Canada markets. With the support of our existing plant in Camrose, Alberta, Perma-Pipe is well positioned to provide our valued customers across Canada with top-quality insulation systems. The new 37,000 square foot facility sits on three acres and is equipped with state-of-the-art pipe insulating technology that will significantly increase the Company\u2019s production capacity. 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