(TSX: SCL)

TORONTO, April 15, 2013 /PRNewswire/ – ShawCor Ltd. (TSX: SCL) announced today
that its Socotherm division has completed the acquisition of the 49%
interest in Socotherm LaBarge LLC that it did not previously own for an
undisclosed sum.

Since 2008, Socotherm has been a partner in this successful joint
venture in the global offshore deepwater insulation coating market.
The venture has a strategically located facility in Channelview, Texas
which provides anticorrosion and advanced insulation coatings for
global offshore applications, including in the Gulf of Mexico and West
African markets.

Mr. Bill Buckley, President and CEO of ShawCor Ltd. remarked, “The
acquisition of 100% of Socotherm LaBarge represents an investment in
the fastest growing and most technically complex segment of global
pipeline activity and is part of our ongoing strategic growth plan”.

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 eight divisions with over seventy manufacturing and service
facilities located around the world.

Forward Looking Information

This document includes certain statements that reflect the Board’s
expectations and objectives for the Company’s future performance,
opportunities and growth, which statements constitute forward-looking
information under applicable securities laws. Such statements, other
than statements of historical fact, are predictive in nature or depend
on future events or conditions.

Forward-looking information involves known and unknown risks and
uncertainties that could cause actual results to differ materially from
those predicted by the forward-looking information. We caution readers
not to place undue reliance on forward-looking information as a number
of factors could cause actual events, results and prospects to differ
materially from those expressed in or implied by the forward-looking
information.

The Company does not assume the obligation to revise or update
forward-looking information after the date of this document or to
revise it to reflect the occurrence of future unanticipated events,
except as may be required under applicable securities laws.

SOURCE ShawCor Ltd.