Dec. 3 at 8:27 PM
Perma-Pipe International shares climbed Wednesday after the company reported securing
$52 million in project awards for the third quarter of 2025. The total includes
$30 million previously announced in September plus an additional
$22 million in new contracts. The awards cover major U.S. data-center infrastructure work and Saudi Aramco-related projects that will be executed through its newly approved facility in Dammam, Saudi Arabia.
Executives said the wins reflect accelerating demand for critical infrastructure, especially tied to data centers and energy systems. The company noted that its expanded Dammam site strengthens regional manufacturing capabilities, enabling faster delivery of engineered piping systems and integrated solutions for customers in energy, utilities, and essential infrastructure markets.
Management also highlighted Saudi Arabia as a strategic growth region, with the Aramco awards reinforcing Perma-Pipe’s local presence.
$PPIH