Shawcor sells substantial part of pipeline and pipe services business for $220M

TORONTO - Shawcor Ltd. has signed a deal to sell a substantial part of its pipe coating division to Tenaris S.A. for about $220 million.

The Shawcor Ltd. logo is shown in a handout. Shawcor Ltd. has signed a deal to sell a substantial part of its pipe coating division to Tenaris S.A. for about $220 million.

TORONTO - Shawcor Ltd. has signed a deal to sell a substantial part of its pipe coating division to Tenaris S.A. for about $220 million.

Chief executive Mike Reeves says that once complete, the transaction, combined with others and a few remaining non-material actions, will conclude its strategic review process.

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