25/08/2012 15:15 AST

Saudi Steel Pipes (SSP) announced on Saturday, August 25th 2012, winning four contracts to supply welded steel pipes to Saudi Aramco, at a total value of more than SR 215.8 million.

SSP is one of the few companies in the world certified by Saudi Aramco to produce this type of pipes used in oil and gas wells.

The company successfully won these contracts despite fierce competition from other international companies, which confirms the commitment to quality and competitive pricing of SSP's products.

The pipes will be produced throughout 4th qtr 2012 and 1st qtr 2013, in SSP's factory in the 2nd Industrial City, Dammam, as per Aramco's international standard specifications; whereas the raw materials will be supplied locally by HADEED Co. (SABIC). The financial impact is expected to reflect positively on the 1st and 2nd quarters of 2013 financials.


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Ticker Price Volume
SSP Sector Market
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MAADEN 59.55 0.00 (0.00%)
SABIC 54.95 0.00 (0.00%)
SABICAGRINUTRIENTS 116.00 1.00 (0.86%)
YANSAB 30.42 -0.10 (-0.33%)
LUBEREF 94.70 0.75 (0.79%)
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