ShawCor Announces Acquisition of Remaining 50% of Thermotite Brasil Ltda. and BS Servicios de Injecao

By Shawcor Ltd., PRNE
Monday, October 4, 2010

TORONTO, October 5, 2010 - ShawCor Ltd. (TSX: SCL.A, SCL.B) today announced its Bredero Shaw
division has completed the acquisition of the remaining 50% interest in
Thermotite Brasil Ltda. and BS Servicios de Injecao that it did not
previously own, subject to regulatory approvals in Brazil. The purchase price
is US$37.9 million, to be paid in two installments, with the first amount of
US$19.4 million due upon completion of the transaction and a second payment
of US$18.5 million to be paid in 2013.

Since 2006, Bredero Shaw has been a partner in this successful joint
venture in the offshore thermal insulation market in Brazil. The venture has
a strategically located facility which provides anticorrosion and advanced
insulation coatings for offshore applications. Bredero Shaw anticipates that
the demand for these products will increase as Brazil invests heavily in
offshore oil and gas developments.

ShawCor Ltd. is an energy services company specializing in products and
services for the pipeline and pipe services and the petrochemical and
industrial segments of the oil and gas industry. The company operates through
seven divisions with over seventy manufacturing and service facilities
located around the world.

Bredero Shaw, ShawCor's largest division, is the global leader in pipe
coating solutions and employs approximately 4,000 permanent and contract
personnel located at offices and facilities in fifteen countries. The
division provides specialized coating systems and related services for
corrosion protection, insulation and weight coating applications on land and
marine pipelines including highly engineered corrosion and insulation systems
for deepwater applications.

This news release contains forward-looking information within the meaning
of applicable securities laws. Words such as "may", "will", "should",
"anticipate", "plan", "expect", "believe", "predict", "estimate", and similar
terminology are used to identify forward-looking information. This forward
looking information is based on assumptions, estimates and analysis made in
light of the company's experience and its perception of trends, current
conditions and expected developments, as well as other factors that are
believed by the company to be reasonable and relevant in the circumstances.
Forward-looking information involves known and unknown risks, uncertainties
and other factors which may cause actual results, performance or achievements
to be materially different from those predicted, expressed or implied by the
forward-looking information. The risks and uncertainties include, among other
things, changes in global economic activity and changes in energy supply and
demand which impact on the level of drilling activity and pipeline
construction; political, economic and other risks arising from international
operations; compliance with environmental, trade and other laws; liability
claims; fluctuations in foreign exchange rates and fluctuations in raw
material prices, as well as other risks and uncertainties that are more fully
described in the company's Annual Information Form, annual and quarterly
reports and in other reports and filings made with securities regulatory
authorities and available at

For further information: For further information: ShawCor Ltd., Gary
, Vice President, Finance and CFO, Tel: +1-416-744-5818, E-mail:, Website:

For further information: For further information: ShawCor Ltd., Gary
Love, Vice President, Finance and CFO, Tel: +1-416-744-5818, E-mail:
glove at

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