Bloomberg, citing people familiar with the situation, has reported that Chinese state backed maker of seamless steel pipe Tianjin Pipe is considering selling its Gregory Texas based seamless pipe mill for at least USD 1.3 billion and is gauging interest mostly from industry peers based in the US. Sources said “Deliberations are preliminary and Tianjin Pipe could still decide to keep the asset.” After studying potential sites beginning in 2007, Tianjin Pipe selected the 410 acre site near Corpus Christi, and planned to invest more than USD 1 billion in the seamless steel pipe manufacturing facility. The second phase of the site’s development, which could employ as many as 600 workers, was targeted for completion in 2019. Tianjin Pipe is one of the largest seamless pipe makers in China with an annual production capacity of 3.5 million tonnes
Bloomberg, citing people familiar with the situation, has reported that Chinese state backed maker of seamless steel pipe Tianjin Pipe is considering selling its Gregory Texas based seamless pipe mill for at least USD 1.3 billion and is gauging interest mostly from industry peers based in the US. Sources said “Deliberations are preliminary and Tianjin Pipe could still decide to keep the asset.” After studying potential sites beginning in 2007, Tianjin Pipe selected the 410 acre site near Corpus Christi, and planned to invest more than USD 1 billion in the seamless steel pipe manufacturing facility. The second phase of the site’s development, which could employ as many as 600 workers, was targeted for completion in 2019. Tianjin Pipe is one of the largest seamless pipe makers in China with an annual production capacity of 3.5 million tonnes
