Key Developments: WSP Holdings Ltd (WH)
3.05USD
23 May 2013
$-0.01 (-0.33%)
$3.06
$3.06
$3.06
$3.05
1,701
28,937
$3.10
$1.10
Latest Key Developments (Source: Significant Developments)
WSP Holdings Ltd Enters Into Definitive Agreement With Nippon Steel & Sumitomo Metal Corporation's Southern Tube LLC
WSP Holdings Ltd announced that it has entered into a definitive agreement with Southern Tube LLC, an affiliate of Nippon Steel & Sumitomo Metal Corporation ("Southern Tube"), for the sale of certain assets of Houston OCTG Group, Inc. ("Houston OCTG"), its wholly-owned U.S. subsidiary. Under the terms of the agreement, Southern Tube will purchase production facilities held by Houston OCTG, including land, equipment and related permits and licenses, for a total consideration of $43.0 million. The transaction is expected to close by the end of November 2012. . Full Article
WSP Holdings Limited's Wuxi Seamless Oil Pipes Company Limited Wins $97 Million in Orders from Venezuela and Ecuador
WSP Holdings Limited announced that its wholly-owned subsidiary, Wuxi Seamless Oil Pipes Company Limited (WSP China), received $97 million in new orders from state-owned oil companies in Venezuela and Ecuador. WSP China received 22 new purchase orders for API and non-API casing pipe, API tubing pipe, line pipe and connectors from PDVSA Services B.V., a state-owned hydrocarbons company in Venezuela. These new purchase orders are for a total of 37,705 tonnes of API and non-API casing pipe and API tubing pipe and 4,600 tonnes of line pipe, worth approximately $81 million. Among these, non-API casing pipe accounts for $48 million, or 60% of the total. The Company expects to complete delivery of these orders by the end of September 2011. In addition, WSP China received a new purchase order from PETROAMAZONAS EP, a state-owned oil corporation in Ecuador. The new purchase order is for a total of 9,063 tonnes of API casing pipe and 1,110 tonnes of non-API tubing pipe, worth approximately $16.4 million. The Company expects to complete delivery of the order by the end of July 2011. Full Article
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