NSSMC takes aim at US OCTG market

Oct 05, 2012 | 04:30 PM | Michael Cowden

Tags  Nippon Steel & Sumitomo Metal, NSSMC, WSP Holdings, OCTG, heat-treatment plant, VSN, Vallourec, energy tubulars Michael Cowden

CHICAGO — China’s WSP Holdings Ltd. might have thrown in the towel on its Houston division, but Japan’s Nippon Steel & Sumitomo Metal Corp. (NSSMC) has high hopes for the facilities—and the potential they offer in the high-end oil country tubular goods (OCTG) market in the United States.

NSSMC confirmed that it has acquired WSP Houston OCTG Inc. for $43 million through its Southern Tube LLC subsidiary. The company said it plans to make additional capital investments in the facilities after the acquisition closes and have a "full-fledged" commercial operation on the site by 2015, the company said.....

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