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Northwest Pipe Company (Nasdaq:NWPX) reported today that it received a letter of intent to provide approximately 9,500 tons of welded steel pipe in Amman, Jordan.
The pipe will be installed by the Morganti Group, of Danbury Connecticut, and is part of the Wadi Ma'in Zara and Mujib Water Treatment and Conveyance Project. This project is a major component of Jordan's overall water improvement program. Its main object is to provide the Greater Amman Area with 38 MCM per year of desalinated, drinkable water. This two-year project will primarily be funded by the U.S. Agency for International Development (USAID).
Northwest Pipe will supply approximately 130,000 feet of 40-inch-diameter steel pipe, which is expected to be manufactured in the company's Parkersburg, West Virginia, division. Delivery of the pipe is scheduled to begin in the second quarter of 2004. Northwest Pipe was assisted in this sale by the United States International Group of Birmingham, Alabama.
"We are delighted to announce this letter of intent," said Brian Dunham, President and CEO. "We have been working on this project, as well as other international opportunities, for the past two years. We consider this a key milestone towards a greater international presence."
Northwest Pipe Company manufactures welded steel pipe in two business segments. Its Water Transmission Group is a leading supplier of large-diameter, high-pressure, steel pipe products used primarily for water transmission in the United States and Canada. 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 Portland, Oregon, and operates eleven manufacturing facilities in the United States and Mexico.
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