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Pipeline supplier ShawCor Ltd. (Toronto, ON) is expanding its coatings reach worldwide, staking a claim to pipe-coating contractor Socotherm S.p.A. (Vicenza, Italy) and swallowing up offshore protective coatings maker Thermotite Brasil Ltda. of Brazil in recent weeks.
The acquisitions complement a recent resurgence in pipeline project activity that netted the company an increase of more than 20% in third-quarter revenue, said president and CEO Bill Buckley.
With the recent approval of Italian regulators, ShawCor has teamed up...