The Successful Investor Hotline – Friday, November 25, 2011

Article Excerpt

SHAWCOR LTD., $24.80, Toronto symbol SCL.A, won two major contracts this week. The company makes sealants and coatings that protect onshore and offshore oil and natural gas pipelines from corrosion. It also makes industrial equipment, such as electrical wire and protective sheaths. One of these new deals is a $400 million U.S. agreement to provide coatings and other services to a natural gas pipeline on the Ichthys gas field off the northern coast of Australia. ShawCor did not say when the work would begin or how long the job would take. Under the other new contract, ShawCor will provide coatings for a 300-kilometre pipeline that pumps natural gas from fields off the coast of western Australia to the Wheatstone liquefied natural gas facility. This is the company’s second contract with the Wheatstone project. Together, the two Wheatstone deals are worth $170 million U.S. The company will start work on this latest contract in the second quarter of 2012. It did not say when…