WSP may be returning to US market in ‘11
Dec 03, 2010 | 06:23 AM
China's WSP Holdings Ltd. indicated that it could be back in the U.S. market as early as next year.
That may be welcome news for the energy tubular producer, which has hemorrhaged money in 2010 following the imposition of U.S. duties on Chinese imports.
WSP said it expected to complete the first hot-rolling production line at its Thai subsidiary, WSP Pipe Co. Ltd., by the end of 2010. A second line is slated for production in the first quarter of 2011.
The company said that it expects the Thai subsidiary and its U.S. subsidiary—Houston OCTG Group Inc.—to "begin contributing to the bottom line" next year.
The company did not elaborate, but in an investor presentation earlier this year, WSP said it expected to ship green tubes from the Thai facility to be finished in Houston. It also said it planned on "aggressively targeting international customers" from Houston, especially those in North, Central and South America (Perspectives, Oct. 4).....
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