IPSCO Inc. announced record net income in 2005 of $585.8 million, compared to $454.9 million in 2004. The increased earnings are primarily attributable to higher average selling prices, increased margins across most product lines, and a stronger product mix due to record sales of energy tubular products.
A question was put to the PM Engineer (PME) staff (one of SUPPLY HOUSE TIME'S sister magazines) asking how nominal pipe size came to be. Here is the answer provided by PME Editorial Director Julius Ballanco.
IPSCO has received a commitment from Enbridge reserving IPSCO's large diameter pipe mills for two major pipeline projects. The order for approximately 166,000 tons of spiral-welded pipe will begin production in the second half of 2006.
Maverick Tube Corp. reported 2005 sales increased to $1.8 billion from $1.3 billion the prior year, including results from the acquisition of South America's Tubos del Caribe. Net income for the year dropped by $21.5 million to $172.3 million.
China's crude steel production last year approached 350 million tons and the country's share of world total output rose from just over 26% in 2004 to almost 31% in 2005, according to MEPS International Steel Review (www.meps.co.uk).