News Releases

Established Steel Pipe Processing and Distribution Center in　Wakayama

PetroMaterials Corporation
October 11, 2005

Our first domestic processing and distribution center in Japan was established in Wakayama City, Wakayama Prefecture. This new company was named Japan Petropipe Co., Ltd. (President: Mr.Seika Miyake), and the registered capital of such Company is 100 million yen(Japanese currency).

With the purpose of provision of high-level services to petroleum companies in China, who are our main clients, the following requirements concerned with our services have been being rapidly increased: more diversity in products; smaller lots; faster delivery ; and more globalization. In order to satisfy the needs of the foresaid important clients, therefore we made the decision to plunge into this investment. The new distribution center has a capability of accessory processing and in addition is equipped with a steel pipe inventory capacity of 10,000 tons and 40,000 tons of annual threading capacity.