TORONTO -- ShawCor Ltd. announced that its subsidiary, Shaw Pipe Protection Limited, has entered into an agreement to acquire the coating assets and business of Altus Energy Services Partnership, Altus Energy Services Ltd. and Nusco Northern Manufacturing Ltd. (collectively “Altus"). The coating business, formerly known as CSI, provides shop-applied coatings at its facility in Nisku, Alberta, Canada, and provides field-coating services throughout western Canada.
CSI specializes in the internal and external coating of bends, fittings, elbows and short spools of pipe including the internal corrosion coating of long, straight lengths of pipe. The acquisition of the CSI assets will allow Shaw Pipe Protection to supply a broad range of internal and external custom coating solutions that are complementary to its current range of anticorrosion, flow-efficiency and insulation coatings for oil and gas gathering and transmission lines. This acquisition will also allow Shaw Pipe Protection to provide a full range of custom coating solutions for the oil sands and for pipeline rehabilitation applications.
Subject to customary closing conditions, the transaction is expected to be completed on April 6, 2011.
ShawCor Ltd. is an energy service company specializing in products and services for the pipeline and pipe services and the petrochemical and industrial segments of the oil and gas industry. The company operates through seven divisions with over 70 manufacturing and service facilities located around the world.