Northwest Pipe Company Announces $7 Million Order
December 23 2008 - 5:00PM
Marketwired
Northwest Pipe Company (NASDAQ: NWPX) reported today that it has
received a Letter of Intent from Cableados Industriales SA de CV
("CISA") for a project in Baja California.
The Company will supply approximately 15,000 feet of 54" steel
pipe valued at approximately $7 million for an engineered and
custom fabricated piping system. The pipe is expected to be
manufactured in the Company's Adelanto, California division with
delivery scheduled to begin in the first quarter of 2009.
The pipe will be used in the Tecate Hydroelectric Project,
located in the Rancho Tecate area. CISA will build and operate the
project for approximately two years. The ultimate owner of the
project will be the state of Baja California and the State Water
Commission.
Northwest Pipe Company manufactures welded steel pipe and other
products in two business segments. Its Water Transmission Group is
a leading supplier of large diameter, high-pressure steel pipe
products that are used primarily for water infrastructure in North
America. Its Tubular Products Group manufactures smaller diameter
steel pipe for a wide range of construction, agricultural, energy,
industrial and mechanical applications. The Company is
headquartered in Vancouver, Washington and has ten manufacturing
facilities across the United States and Mexico.
This release contains forward-looking statements, including
statements regarding the project described above. These statements
reflect management's current information about the project
mentioned above and management's current views and estimates of
market circumstances, industry conditions and Company performance.
Actual results could vary materially from the description contained
herein due to many factors including market demand, operating
efficiencies, availability and price of raw materials, and other
risks described from time to time in the Company's reports to the
Securities and Exchange Commission.
For more information, contact: Brian Dunham 360-397-6250
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