EU and US could reach trade deal this weekend - Reuters
Perma-Pipe International Holdings, Inc. (NASDAQ:PPIH), a $183 million market cap company that has delivered an impressive 57% return year-to-date, announced Monday that David J. Mansfield has resigned from its board of directors, effective immediately. Mansfield also informed the board of his decision not to stand for re-election.
According to the company’s filing with the Securities and Exchange Commission, Mansfield’s resignation follows his eight years of service as chief executive officer and as a board member. The filing stated that his decision was not the result of any disagreement with the company regarding its operations, policies, or practices.
The announcement was made through a press release statement included in the SEC filing. No additional information about a successor or changes to company operations was provided in the filing. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading near its fair value, with 11 additional real-time insights available to subscribers.
In other recent news, Perma-Pipe International Holdings announced securing multiple project awards across the Americas and the MENA region, totaling over $27 million. These projects will utilize the company’s anti-corrosion coating and XTRU-THERM insulation system technologies. Additionally, Perma-Pipe has won a $2.4 million contract for a project in Qatar, marking its first venture in the country. This project will leverage the company’s fabrication capabilities and XTRU-THERM insulation system, with operations commencing from a temporary facility in Doha. Furthermore, Perma-Pipe is constructing a permanent facility in Qatar to support long-term regional operations and expand its services to Southeast Asia markets. In leadership changes, Saleh Sagr has been appointed as the new President and CEO, succeeding David Mansfield. Sagr has been with the company since 2019 and brings over 30 years of international experience. These developments reflect Perma-Pipe’s strategy to expand its market reach and diversify its offerings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.