Shawcor changing name to Mattr and launching strategic review

TORONTO — Shawcor Ltd. says it is changing its name to Mattr and launching a review of strategic alternatives for its pipeline performance group, Shaw pipeline services and oilfield asset management operating units.

The company says a range of options are under consideration, including the potential sale of all three operating units.

Shawcor’s pipeline performance group and Shaw pipeline service operating units form its pipeline and pipe services reporting segment, while the oilfield asset management business is part of its composites systems segment.

The company says the new name is conditional on regulatory and shareholder approvals.

The name change is expected to occur during the first half of next year.

The company’s shares are also expected to trade under a new ticker symbol.

This report by The Canadian Press was first published Sept. 12, 2022.

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The Canadian Press