Item 1.01. Entry into a Material Definitive Agreement.
Perma-Pipe International Holdings, Inc. has entered into a joint venture with
Gulf Insulation Group in the Kingdom of Saudi Arabia to provide pre-insulated
piping systems, piping fabrication, internal and external fusion bonded
epoxy coating services and leak detection systems for customers in the Kingdom
of Saudi Arabia, Kuwait and Bahrain. This joint venture will be positioned to
participate in Saudi Vision 2030, a strategic framework to diversify the Saudi
Arabia economy through development of public services sectors such as health,
education, infrastructure, recreation and tourism.
The joint venture will be 60% controlled by Perma-Pipe International Holdings,
Inc. and 40% by Gulf Insulation Group, respectively, and will operate with
existing Dammam and Riyadh plants in the Kingdom of Saudi Arabia.
Formation of the joint venture is subject to the approval of the Kingdom of
Saudi Arabia General Authority for Competition.
Certain of the material obligations are subject to continued negotiations
between the parties.
Gulf Insulation Group is part of the Zamil Industrial Group, a Saudi Arabian
public company and one of the largest industrial groups in the Middle East.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are being filed herewith:
Exhibit Number Description
(104) Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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PERMA-PIPE INTERNATIONAL HOLDINGS, INC. 
