WSP Holdings Limited Overview
WSP Holdings Limited is a leading manufacturer of Oil Country Tubular Goods (OCTG) in China. Our products consist of seamless casing, tubing and drill pipes that are used for oil and natural gas exploration, drilling and extraction, and other pipes and connectors.
We offer a comprehensive range of seamless OCTG that can generally be divided into two categories:
• American Petroleum Institute (API) products are manufactured according to standards formulated by the API. The Company is API certified and may use the official API monogram on products to show that the respective products meet API standards. API certification is subject to periodic review by the API.
• Non-API products are non-standard products with customized specification that are developed to meet special needs and provide improved strength, higher corrosion resistant, improved sealing and premium connectors. These products are used under extreme conditions in difficult environments such as deep wells, steam injection wells, highly corrosive geological conditions containing H2S, CO2 and high stratum pressure. Non-API products typically command a price premium compared to API products because they are more technology-intensive and are or a higher quality than API products.
Our products are sold to domestic customers including the largest Chinese oil companies. In 2006, we were the third largest OCTG supplier to China National Petroleum Corporation (CNPC), China's largest oil company.
We have established an extensive overseas customer base, including customers in North America, the Middle East, Asia, Africa and Russia. We are a major PRC exporter of seamless OCTG, accounting for over 15% of OCTG exports from China in 2006. We will continue to grow by expanding our international presence.
There is sustained global demand for our OCTG products and industry expertise. Long-term access to raw material supplies, customer-oriented research and development, high quality products, a competent and technical sales team, experienced management team and quality after-sales support all contributed to our consistent financial growth.
Our American Depositary Shares ("ADSs") began trading on December 6, 2007 on the New York Stock Exchange under the ticker symbol "WH".
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