WSP ramps up Thai output but cash bleed continues

Oct 01, 2012 | 10:06 AM | Michael Cowden

Tags  WSP Holdings, second-quarter results, Longhua Piao, OCTG, steel pipe, Michael Cowden

CHICAGO — WSP Holdings Ltd. spilled more red ink in the second quarter as the company finished construction of a new oil country tubular goods (OCTG) manufacturing facility in Thailand and started to ramp up production.

The Wuxi, China-based company, which has finishing and inspection operations in Houston, said the Thai facility’s two production lines, which have a combined capacity of 200,000 tonnes per year, began commercial operations in the first half and passed an American Petroleum Institute (API) audit in July.....

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