Shawcor Ltd. (TSX:SCL) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 5,685,630 shares, for CAD 25 million. The bid will be funded using existing cash resources and any common shares repurchased by the company under the bid will be cancelled.

The bid will be valid for a period of one year after its commencement, or earlier if the maximum is reached or the bid is terminated at the option of the company.