PORTLAND, OR, July 3, 2007 -- Northwest Pipe Company announced today the acquisition of substantially all the operating assets of Continental Pipe Manufacturing Company of Pleasant Grove, Utah. Details of the cash transaction were not disclosed.
Continental Pipe Manufacturing Company produces spiral welded steel pressure pipe for use in water transmission pipelines. It has historically marketed its products primarily in Utah and the surrounding mountain states. The company began operation in the 1940s and has operated under multiple owners. In 1995, the Barnard Companies Inc. of Bozeman, Montana acquired the company and has operated it since that time.
"The Continental acquisition is a great fit for our Water Transmission business," said Brian W. Dunham, Northwest Pipe Company's CEO. "It continues our strategy of geographic expansion by acquisition and adds manufacturing capacity to an area that we expect will see significant growth in the years ahead."
Northwest Pipe also announced that Jeff Bruny, formerly the Operations Manager of its Adelanto, California division, has been named to the new position of Regional Vice President for Water Transmission Operations. In this new position, Bruny will be responsible for the Adelanto and Portland, Oregon divisions as well as the Continental operations.
"Jeff has done an outstanding job for us in Adelanto," said Dunham. "I am delighted to announce the expansion of his responsibilities. His immediate focus will be on the transition of Continental to Northwest Pipe. We expect to operate the business much as it is currently without significant change to management or the workforce. Jeff has a good team in place and we believe together we can grow this company."
Northwest Pipe Company has 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. The Company is headquartered in Portland, Oregon and has ten manufacturing facilities across the United States and Mexico.
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