China's Hilong Holding buys Texas coater
Apr 01, 2014 | 12:51 PM
| Thorsten Schier
NEW YORK Chinas Hilong Holding Ltd. has purchased U.S. oil country tubular goods (OCTG) coater Texas Internal Pipe Coating LLC.
"We will leverage the platform provided by (Texas Internal Pipe Coating) to further promote the application of advanced powder-based coating services in the industry, and in China in particular, and strengthen Hilongs competitiveness in the international OCTG coating services industry," chairman and chief executive officer Zhang Jun said in a statement March 31.
"We (will) also target to provide related services to ... drill pipe customers and boost the sales of drill pipe products in the U.S. through (Texas Internal Pipe Coating)," he added.
Madisonville, Texas-based Texas Internal Pipe Coating can coat 2- through 12.75-inch diameter pipe, according to the statement.
The terms of the deal were not disclosed.