October 13, 2008
Northwest Pipe Company Announces $6M Order
Northwest Pipe Company (NASDAQ: NWPX) reported today it was awarded a contract by the Greater Vancouver Water District of British Columbia for the Seymour and Capilano Filtration Twin Tunnels project. The Seymour and Capilano watersheds supply up to 70% of the Lower Mainland's drinking water. Construction of new water supply and treatment facilities for these water sources is underway in the Lower Seymour Conservation Reserve (LSCR) and at Capilano River Regional Park.
The Company will supply approximately 2,800 feet of 120" steel pipe valued at approximately $6 million. The pipe is expected to be manufactured in the Company's Adelanto, California division with delivery scheduled to begin late 2009.
Northwest Pipe Company will release its third quarter earnings on October 22, 2008.
Northwest Pipe Company manufactures welded steel pipe and other products in two business groups. Its Water Transmission Group is the 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 applications including construction, agricultural, energy, traffic and other commercial and industrial uses. 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
SOURCE: Northwest Pipe Company