Mattr signs definitive agreement to sell a substantial part of its pipeline and pipe services segment to tenaris for approximately $220 million cad

Toronto, aug. 14, 2023 (globe newswire) -- shawcor ltd., dba mattr infratech (“mattr” or the “company”) (tsx: matr) announced today that it has entered into a definitive agreement to sell a substantial part of its pipe coating division (“pipeline performance group” or “ppg”) to tenaris s.a. (“tenaris”) (nyse and mexico: ts and exm italy: ten), including its wholly owned operations in canada, the us, mexico, norway, the uae and indonesia, several mobile concrete coating plants, its joint-venture interest in azerbaijan, its world-class research and development capabilities in toronto and norway, and a broad portfolio of intellectual property.
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