Canadian Pipeline Firm Sees Exceptional Growth
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Pipeline construction for the energy sector is growing worldwide. Companies that provide pipeline and pipe services are receiving contracts in Europe, Asia-Pacific, the Middle East, and North and South America. An undervalued stock in this sector is ShawCor (TSX: SCL), a Toronto-based company with a record $875 million backlog of business. ShawCor has positioned itself as a global leader in pipe coating, with manufacturing facilities in 15 countries worldwide. First-quarter net earnings more than doubled from a year ago. Second-quarter income will be exceptional, too.
Another positive for ShawCor is its recent reorganization to buy out family and eliminate dual class ownership of shares.