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(AMM) WSP pipe mill in Thailand may supply OCTG to US

April 20, 2010 - 23:06 GMT Location: TORONTO

KEYWORDS: WSP Holdings , OCTG , China , Thailand

WSP Holdings Ltd. isn?t letting a U.S. trade action against imports of oil country tubular goods (OCTG) from China get it down. In fact, it would appear that the Chinese pipe and tube manufacturer might now be using those very trade barriers as a marketing tool.

WSP Holdings boasts that a new Thai subsidiary, WSP Pipe Co. Ltd., is due to come online in December 2010. The Chinese pipe and tube manufacturer established the company "to supply green pipe to international markets," it said in a recent investor presentation. The facility, which will have two hot-rolling lines and an annual capacity of 200,000 tonnes per year, will thus make the duties on OCTG from China pretty much a moot point.

An improved outlook in North America could also significantly boost the company's performance in the United States, the company noted.

Green pipe can be upgraded into finished OCTG. That means the Thai facility could prove essential in keeping WSP in the U.S. OCTG market and should fit...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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