Mattr Receives Over $27 Million in International Purchase Orders for Flexpipe

TORONTO, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Shawcor Ltd., dba Mattr Infratech (“Mattr” or the “Company”) (TSX: MATR) announced today that its Flexpipe business has been awarded two purchase orders (“POs”), one in the Middle East and one in India, for its composite, spoolable pipe. In combination, the POs are valued at over $27 million, and are expected to be delivered in the first half of 2024.

“The magnitude of these orders highlights the growing demand for our products in international markets, particularly where adoption of non-metallic solutions is prioritized,” said Martin Perez, Group President of Mattr’s Composite Technologies segment. “The latest PO in the Middle East, which is for our larger diameter pipe, represents one of the most sizeable single orders for Flexpipe in its history. The PO in India also demonstrates that a growing high-class market is trusting our pipe for their needs.”

About Mattr

Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including electrification, transportation, communication, water management and energy. Its two business segments, Composite Technologies and Connection Technologies, operate a global network of manufacturing and technology centers, delivering differentiated, high-value products which enable responsible renewal and enhancement of critical infrastructure while lowering risk and environmental impact.

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Forward Looking Information

This news release contains forward-looking information within the meaning of applicable securities laws. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "predict", "estimate" or similar terminology are used to identify forward-looking information. This forward-looking information is based on assumptions, estimates and analysis made in the light of the Company's experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. The forward-looking information is provided as of the date of this news release and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.

Source: Shawcor Ltd., dba Mattr Infratech