In 1961, PERMA-PIPE, Inc. was started as a division of the Midwesco company in Chicago to manufacture steam and condensate piping systems. Since that time, PERMA-PIPE has grown it's sales to $50 million with manufacturing facilities located on 25 acres in Lebanon, Tennessee and New Iberia, LA., which manufactures preinsulated pipe products for the oil and gas industry. PERMA-PIPE became a public company in January of 1994 as a subsidiary of MFRI, Inc. Traded on the NASDAQ National Market under the symbol MFRI, PERMA-PIPE is the largest manufacturer of specialty piping systems for secondary containment and district heating and cooling in the United States. From nearly the turn of the century through 1993, Ricwil Inc.manufactured district heating and cooling systems and heat traced piping systems as the brand-name leader in the preinsulated piping industry. In 1994, PERMA-PIPE acquired(1) certain assets formerly owned by Ricwil Inc., allowing PERMA-PIPE to improve processes and modernize the Ricwil product line. Adding Ricwil's years of design expertise and proven products to PERMA-PIPEs' unique capabilities greatly enhance PERMA-PIPEs' ability to satisfy the expanding needs of PERMA-PIPE's customers.
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