Steel prices, imports dent NW Pipe’s net
Aug 05, 2014 | 01:31 PM
| Michael Cowden
CHICAGO Northwest Pipe Co.s earnings tumbled in the second quarter due in part to increased competition for projects, rising flat-rolled steel prices and high volumes of line pipe import.
The Vancouver, Wash.-based steel pipe maker expects better results in the third quarter on increased production levels at its water transmission segment, but president and chief executive officer Scott Montross cautioned in the companys earnings report that "high levels" of line pipe imports would remain a drag on margins in the near term.....
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