Targeted Strategies for Today's Evolving Markets

MissionIR Blog

Northwest Pipe Company (NWPX) Awarded Massive Contract

Northwest Pipe Company (NWPX) reported Wednesday that it has agreed to supply $22 million in steel pipe to Reynolds-Tierdale for the Prairie Waters Project in Aurora, Colorado. The Vancouver-Based company will supply around 68,000 feet of 6-inch steel pipe valued at approximately $22 million. The pipe will be used to draw water from the South Platte River to supply the city of Aurora. The pipe is expected to be manufactured in the Company’s Denver, Colorado division with delivery scheduled to begin in the third quarter of this year.

The size of the work order is incredible, considering Northwest Pipe’s average order size is just over $1 million. The revenue for NWPX for last year totaled $380 million, making this single order around 5.5% of their revenue. The news of this order broke on Wednesday, and shares of NWPX are up $2.56 to $45.03 per share as of mid-day today.

Northwest Pipe Company manufactures welded steel pipe and other products in three 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. Its Fabricated Products Group manufactures propane tanks and other fabricated products.

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *