Shawcor Ltd is a Canadian oilfield services company, based in Toronto, Ontario, and listed on the
Toronto Stock Exchange
The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in the ...
. 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.
In 2017, it had a revenue of $1.56 billion. It was founded by Francis Shaw, the father of the founder of
Shaw Communications, and there was substantial ownership in both companies by the Shaw family for many years.
History
Shawcor was founded in the mid-20th century by Francis Shaw in rural
Lambton County
Lambton County is a county in Southwestern Ontario, Canada. It is bordered on the north by Lake Huron, which is drained by the St. Clair River, the county's western border and part of the Canada-United States border. To the south is Lake Saint Cl ...
.
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
James Robert Shaw (August 14, 1934 – March 23, 2020) was a Canadian businessman. He founded Alberta-based Shaw Communications in 1966 and was the executive chairman of the company. As of 2016, Shaw and other members of his family controlled 85 ...
; Leslie inherited the pipeline services business, which became the current Shawcor, while JR Shaw inherited the western cable business, which became
Shaw Communications.
Under Leslie's leadership, the company grew significantly; by 2002, it had a market capitalization of $1 billion, and 43 plants in 20 countries.
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.
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%. In 2013, it eliminated its dual class share structure, under which the Shaw family controlled the majority of voting shares.
Operations
Shawcor operates through 5 business units: Pipeline Performance (Bredero-Shaw, Socotherm, Canusa-CPS, Dhatec), Composite Production Systems (FlexPipe, Global Poly, FlexFlow, ZCL/Xerxes, Parabeam), Integrity Management (Shaw Pipeline Services, Shawcor Inspection Services, Lake Superior Consulting), Oilfield Asset Management (Guardian, CSI), and Connection Systems (DSG-Canusa, Shawflex).
It has about 100 manufacturing and service facilities and sales offices and 6000 employees in 25 countries.
The pipe coating solutions division, which is the largest division in the company, was formerly part of
Halliburton
Halliburton Company is an American multinational corporation responsible for most of the world's hydraulic fracturing operations. In 2009, it was the world's second largest oil field service company. It has operations in more than 70 countries ...
, an international oilfield services conglomerate. At that time, it was named Bredero Price. Shawcor acquired the portion of the division it did not already own for $200 million in 2002.
See also
*
List of oilfield service companies
This is a list of oilfield service companies – notable companies that provide services to the petroleum exploration and production industry but do not typically produce petroleum. In the list, notable subsidiary companies and divisions are list ...
References
External links
*
{{DEFAULTSORT:Shawcor
Companies listed on the Toronto Stock Exchange
Multinational companies
Companies based in Houston
Companies based in Toronto
Energy companies of Canada
Engineering companies of the United States
Oilfield services companies
Paint manufacturers
Coatings
Canadian brands