About Perma-Pipe International Holdings

Perma-Pipe International Holdings, Inc. engages in the manufacture and sale of piping systems. Products and Services The company engineers, designs, manufactures, and sells specialty piping systems and leak detection systems. Specialty piping systems include insulated and jacketed district heating and cooling piping systems for efficient energy distribution from central energy plants to multiple locations; primary and secondary containment piping systems for transporting chemicals, hazardous fluids and petroleum products; the coating and/or insulation of oil and gas gathering and transmission pipelines; and liquid and powder based anti-corrosion coatings applied both to the external and internal surfaces of steel pipe, including shapes like bends, reducers, tees, and other spools/fittings used in pipelines for the transportation of oil and gas products and potable water. The company's leak detection systems are sold with its piping systems or on a stand-alone basis to monitor areas where fluid intrusion contaminatse the environment, endanger personal safety, cause a fire hazard, impair essential services or damage equipment or property. The company frequently engineers and custom fabricates to job site dimensions and incorporates provisions for thermal expansion due to cycling temperatures. Most of the company's piping systems are produced for underground installations, and therefore, require trenching, which is the responsibility of the general contractor, and completed by unaffiliated installation contractors. The company's piping systems are typically sold as a part of discrete projects, and customer demand can vary by reporting period. Customers and Sales Channels The company's customer base is industrially and geographically diverse. In the United States, the company employs inside and outside sales managers who use and assist a network of independent manufacturers' representatives, none of whom sell products that are competitive with its piping systems. The company employs a direct sales force to market and sell products and services in Canada, India, Egypt, and in several countries in the Middle East. On a country-by-country basis, and where advantageous, the company uses an agent network to assist in marketing and selling its products and services. Research and Development For the year ended January 31, 2023, the company's research and development expenses included $0.7 million. History The company was incorporated in Delaware in 1993. It was formerly known as MFRI, Inc. and changed its name to Perma-Pipe International Holdings, Inc. in 2017.