TPi April 2012

business & market news

Pipe coating contract for Barzan Project ShawCor Ltd’s pipecoating division, Bredero Shaw, has received a contract with a value in excess of US$45mn from Hyundai Heavy Industries, to provide corrosion protection and concrete weight coating for the Barzan pipeline project in the Qatari sector of the Arabian Gulf. The contract will be executed at Bredero Shaw’s facility in Ras al Khaimah in the United Arab Emirates and will involve the coating of 292km of up to 24" pipe with a fusion bonded epoxy anticorrosion coating and HeviCote ® concrete weight coating.

ShawCor Ltd is an energy services company specialising 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 seventy manufacturing and service facilities located around the world. Bredero Shaw, ShawCor’s largest division, provides specialised coating systems and related services for corrosion protection, insulation and weight coating applications on land and marine pipelines, including highly engineered corrosion and insulation systems for deepwater applications.

The facility is a technology leader in the anticorrosion, concrete weight and internal coating markets and provides leading-edge pipe coating solutions to clients throughout the Middle East. Work on the project was scheduled to commence late in the first quarter of 2012.

Doha, Qatar

ShawCor Ltd – Canada www.shawcor.com

Wellspring acquires ThermaSys Corp

Indowater 2012 trade show Indowater 2012 – the 8 th International Water, Wastewater & Recycling Technology Expo & Forum – will take place at Grand City Convex in Surabaya, Indonesia, from 11 to 13 July 2012. The event is held every year, alternately in Jakarta and Surabaya. The trade show is organised by PT Napindo Media Ashatama in association with Merebo Messe Marketing based in Hamburg, Germany. Merebo is in charge of the ‘Europe, American & Australia Pavilion’. The last Indowater Surabaya in 2010 attracted 287 exhibitors from 17 countries, and 5,100 trade visitors. Merebo Messe Marketing – Germany contact@merebo.com www.indowater.merebo.com

exchanger industry. This established platform has a proven track record of performance and is recognised by customers for its exceptional product and service offerings.” Paul Schmitz, president and CEO of ThermaSys, said, “Our team has accomplished a great deal in recent years and we look forward to continuing to grow and provide our customers with new products and services under Wellspring’s ownership.” Wellspring has significant experience investing in industrial businesses. In 2008 the firm acquired Cleaver- Brooks, Inc, a manufacturer of fully integrated boiler and burner systems, which as a heat technology-related business serves end markets similar to ThermaSys.

Wellspring Capital Management LLC has acquired ThermaSys Corporation, a manufacturer of a wide range of heat exchangers and heat exchange equipment, from an affiliate of Sun Capital Partners, Inc. Financial terms of the transaction were not disclosed. Founded in 1971 in Montgomery, Alabama, USA as Thermal Components, Inc, ThermaSys supplies a diverse range of highly engineered, custom-designed heat exchangers and heat exchanger components, including aluminium and brass seam-welded tubing. The company is positioned to supply highly engineered heat exchanger products for a wide variety of applications, either as single components or combined in complex systems incorporating multiple heat exchanger products. ThermaSys has expanded its operations through both acquisitions and organic growth initiatives. William F Dawson, Jr, a managing partner of Wellspring, commented, “We are delighted to invest in ThermaSys, which has a long tradition as a market leader in the low volume, highly engineered segment of the heat

Wellspring Capital Management – USA

info@wellspringcapital.com www.wellspringcapital.com

ThermaSys Corporation – USA info@thermasys.com www.thermasys.com

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Tube Products International April 2012

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