OREANDA-NEWS. On 12 May 2008 Interpipe, a leading producer of steel pipes and railway wheels announced results for the first quarter of 2008, ending March 31, 2008. According to preliminary results, Interpipe has recorded 12% growth in pipe production volumes up to 328,000 tons in the first three months of 2008 against the same period in 2007 (292,000 tons).
 
Commenting on results for the first three months of 2008, Fadi Hraibi, Director for Product and Resource Management at Interpipe said:
 
“In the first 3 months of 2008 Interpipe significantly increased sales on the CIS, North American (NAFTA), Middle East and North African markets. The growth in production volumes is explained by the mastering of API PSL2 pipe production at Interpipe NMPP and the launch of its continuous manufacturing regime. The opening of a sales office and warehouse in the United Arab Emirates also contributed greatly to Q1 success”.    
In first quarter of 2008, railway wheels production volumes decreased by 21% up to 46,000 tons against the same period of 2007 (58,000. tons). This decrease was due to a major overhaul of Interpipe’s railway wheels shop, which lasted 25 days.