September 07, 2008

Interpipe pipes output in Q1 up by 12% YoY

Interpipe, a leading producer of steel pipes and railway wheels has announced results for the first quarter of 2008. According to preliminary results, Interpipe has recorded 12% YoY growth in pipe production volumes up to 328,000 tonnes in the first three months of 2008 against 292,000 tonne sin January to March 2007.

In first quarter of 2008, railway wheels production volumes decreased by 21% YoY to 46,000 tonne due to a major overhaul of Interpipe's railway wheels shop, which lasted for 25 days.

Mr Fadi Hraibi director for product and resource management at Interpipe said that "In the first 3 months of 2008 Interpipe significantly increased sales on the CIS, North American, Middle East and North African markets.”

He said that “The growth in production volumes is explained by the mastering of API PSL2 pipe production at Interpipe NMPP and the launch of its continuous manufacturing regime. The opening of a sales office and warehouse in the United Arab Emirates also contributed greatly to Q1 success".

Interpipe is a global producer of steel pipes and wheels, one of the fastest growing producers in Eastern and Central Europe. With annual turnover in excess of USD 1.4 billion, Interpipe produces 2% of the world's seamless pipes and 12.8% of railway wheels.