Northwest Pipe gets $8M order; shares down 3%

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Northwest Pipe Company (Nasdaq:NWPX) announced today it had a verbal agreement with Ranger Pipelines of San Francisco to supply 12,500 feet of piping in a deal worth about $8 million. The Portland, Ore.-based company builds large-diameter, high-pressure steel pipeline systems, usually involving drinking water systems. This order is set to start delivery in the first quarter of 2009.

Despite the new order, shares of Northwest Pipe are down 3% today on below-average volume, about $1.68 lower than Monday’s close.

For detailed price information and recent news stories on Northwest Pipe Company, click NWPX.