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Shawcor Announces Appointment of New Chair

TORONTO, Dec. 21, 2015 (GLOBE NEWSWIRE) -- SHAWCOR LTD. (TSX:SCL) - announced today that Mr. John F. (Jack) Petch, the Chair of the Company’s Board of Directors, will retire from the Board effective as of the close of business on December 31, 2015.

Mr. Petch has been a director of the Company since 2005 and its Chair since 2013. Previously, Mr. Petch served as Lead Director, Chair of the Nominating and Governance Committee and Chair of the Special Committee which was constituted in the fall of 2012 in connection with Shawcor’s strategic review process. The Shawcor Board of Directors would like to thank Jack Petch on behalf of all shareholders, management and employees, for his long and dedicated service to the Company and wishes him well in his retirement.

Shawcor also announced today that its Board of Directors had appointed independent director Paul G. Robinson as its new Chair of the Board, effective January 1, 2016. Mr. Robinson joined the Shawcor Board in 2001 and currently serves as its Audit Committee Chair. Mr. Robinson was also a member of the Special Committee of the Board constituted in the fall of 2012 in connection with Shawcor’s strategic review process.

Shawcor is a global energy services company specializing in products and services for the pipeline and pipe services segment of the oil and gas industry and related products for petrochemical and industrial markets. The Company operates through a network of fixed and mobile manufacturing and service facilities located around the world and is valued for its integrity, technology and proven capability to execute the most complex projects in our industry.

For further information, please contact: Shawcor Ltd. Gary Love Vice President, Finance & CFO Tel: 416-744-5818 Email: glove@shawcor.com Website: www.shawcor.com

Source:ShawCor Ltd.