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News Breaks | | | | October 1, 2012 | | 09:02 EDT |  | WH | WSP Holdings announces agreement to sell assets of Houston OCTG
WSP Holdings announced that it has entered into a definitive agreement with Southern Tube LLC, an affiliate of Nippon Steel & Sumitomo Metal Corporation, for the sale of certain assets of Houston OCTG Group, its wholly-owned U.S. subsidiary. Under the terms of the agreement, Southern Tube will purchase production facilities held by Houston OCTG, including land, equipment and related permits and licenses, for a total consideration of $43M. The transaction is expected to close by the end of November. The closing of the transaction is subject to certain customary closing conditions. | |
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