MFRI to rename, rebrand under Perma-Pipe brand

NILES - MFRI's board of directors have approved a plan to rename and rebrand the company with its Perma-Pipe brand.

In addition, David J. Mansfield, president and chief executive officer of MFRI, has been named

president of Perma-Pipe, replacing Fati A. Elgendy, who retired but remains a consultant to the company. Mansfield has been appointed to the board of directors.

"Now that the company operates in a single business segment under the Perma-Pipe brand, it is in the best interests of the Company and its shareholders to rebrand MFRI with the Perma-Pipe name," said Board Chairman David S. Barrie, "This decision will better serve the company's strategy and position it well in the industry and global market.

The company's new name and stock ticker symbol will be announced in the coming months, Barrie added.

Mansfield added the rebranding in is line with the company's recent divestiture of it filter businesses.

"Renaming the company will clarify who we now are and enable us to leverage the excellent brand reputation Perma-Pipe

has established over many years as the industry leader in pre-insulated piping and leak detection systems," Mansfield said.

The company also said Bradley E. Mautner, who served as a vice president over the past three months to assist with the onboarding and transition of Mansfield, is leaving the company. Mautner, who was MFRI's president and CEO from February 1, 2013 to November 8, 2016, will continue as a board member.