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Stock Market & Financial Investment News

News Breaks
October 10, 2012
17:34 EDTMFRIMFRI, Inc. COO Bradley E. Mautner to become CEO in 2013
MFRI, Inc. announced that Bradley E. Mautner, the company's current COO, will assume the position of CEO effective February 1, 2013 as part of the company's management succession plan. David Unger, the current CEO, will continue as chairman and work with Mr. Mautner on various strategic initiatives. Mr. Unger, 77, joined a predecessor to MFRI in 1958 and since that time has led the company's growth.
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July 9, 2014
08:06 EDTMFRIMFRI, Inc. subsidiary signs JV in Colombia
MFRI, Inc. announced that its Perma-Pipe subsidiary has entered into a joint venture agreement with Colombia-based Tayrona Steel Pipe, or TSP, to manufacture pre-insulated pipe. Perma-Pipe will provide its Xtru-ThermŽ advanced insulating process equipment, technology and training for the manufacture of insulated piping systems used to distribute hot and cold fluids. The factory will be located in TSP's new production facility in the Santa Marta, Colombia free zone. TSP will provide steel pipe, casing and tubing, and corrosion coating for the line pipe. Perma-Pipe will own 49% of the joint venture while TSP will have a 51% ownership position. The joint venture -- which will initially serve the oil and gas markets in Colombia, Mexico, Venezuela, Ecuador and Peru -- will commence with a three-year, multi-million dollar, blanket order to supply pre-insulated pipe for a major Latin American oil company. Production is expected to begin in late 2014 and the facility will be fully operational in early 2015.

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