Shawcor

Shawcor Ltd
Public
Traded as TSX: SCL
Industry Oil & Gas Equipment Services
Headquarters Toronto, ON, CDN
Houston, TX, USA (Bredero Shaw)
Area served
 Worldwide
Key people
 Virginia Shaw
(former Chairman), Steve Orr
(CEO), John Tikkanen
(President, Bredero Shaw Division )
Products Technical services to the petroleum industry; Pipe Coating
Number of employees
 6,000 - November 2017
Website www.shawcor.com

Shawcor Ltd is a Canadian oilfield services company, based in Toronto, Ontario, and listed on the Toronto Stock Exchange. It specializes in providing services to the pipeline sector of the oil and gas market. It is one of the largest pipe-coating providers in the world.[1] In 2017, it had a revenue of $1.56 billion.[2] It was founded by the father of the founder of Shaw Communications, and there was substantial ownership in both companies by the Shaw family for many years.[3]

History

Shawcor was founded in the mid-20th century by Francis Shaw in rural Lambton County.[4] It was originally a construction company, but later expanded into pipeline coatings, cable television, and numerous other businesses. In the 1970s, the business was split between Francis's sons Leslie and JR Shaw; Leslie inherited the pipeline services business, which became the current Shawcor, while JR Shaw inherited the western cable business, which became Shaw Communications.[4] Under Leslie's leadership, the company grew significantly; by 2002, it had a market capitalization of $1 billion, and 43 plants in 20 countries.[3] Around that time, Leslie ceded his leadership of the business to his daughter, Virginia Shaw.

In 2012, Shawcor suggested that it might consider putting itself up for sale.[1] At the time, the company had a market capitalization of about $3 billion. The company eventually decided not to sell, causing to share price to fall 15%.[5] In 2013, it eliminated its dual class share structure, under which the Shaw family controlled the majority of voting shares.[6]

Operations

Shawcor operates through 13 business units: Bredero Shaw, Canusa CPS, CSI, Desert NDT, Dhatec, DSG-Canusa, Flexpipe Systems, Global Polly, Guardian, Lake Superior Consulting, Shawcor Pipeline Services, ShawFlex, and Socotherm.[7] It has about 100 manufacturing and service facilities and sales offices and 6000 employees in 25 countries.[7]

The Bredero Shaw division, which is the largest division in the company, was formerly part of Halliburton, an international oilfield services conglomerate. At that time, it was named Bredero Price. Shawcor acquired the poriton of the division it did not already own for $200 million in 2002.[8]


See also

References

  1. 1 2 "ShawCor sale will draw big crowd, high price". The Globe and Mail. 2012-09-06. Retrieved 2018-08-19.
  2. ↑ "Shawcor 2017 Annual Report" (PDF).
  3. 1 2 "ShawCor boss's hands-off approach to energy firm leaves time for golf". The Globe and Mail. 2002-10-20. Retrieved 2018-08-19.
  4. 1 2 "Shaw business dynasty began in rural Lambton County". Wallaceburg Courier Press. 2016-01-14. Retrieved 2018-08-19.
  5. ↑ "ShawCor falls as sale considered 'highly unlikely'". Financial Post. 2012-12-04. Retrieved 2018-08-19.
  6. ↑ "ShawCor to eliminate dual share structure". The Globe and Mail. 2013-01-14. Retrieved 2018-08-19.
  7. 1 2 "Shawcor - Leading Brands".
  8. ↑ "ShawCor taking over all of Bredero-Shaw". The Globe and Mail. 2002-07-23. Retrieved 2018-08-19.
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