Join us on Facebook and keep up to date with all the news
We are all inches from the ground
Inches from the ground
Tianjin Pipe Company profits $1.5 Billion/year on importing oil well pipes to the USA
In 2008 a 63% tariff was placed on all Tianjin imported pipes.
Sales went to Zero
In 2009, Tianjin Pipe Company, China’s largest steel pipe producer, announced that it would invest more than $1 billion in a new factory in the tiny town of Gregory, Texas, population 2,318. Facing US tariffs, the Chinese company had decided to start manufacturing near its US market, it started scouting locations across the United States. Gregory beat 73 communities.
That striking project, in fact, represents the largest investment in new manufacturing that a Chinese company has ever made in United States. In short, it’s a whopper of a deal, practically big enough to stop the proverbial clock.
Project Will Have $2.7-Billion Impact in 10 Years
That formidable teamwork could yield a rich payoff. According to a study conducted by Impact Data Source of Austin, TPCO’s plant in its first 10 years of operations will have a direct economic impact of $2.7 billion on the local economy. That impact will include $327 million in direct employee salaries, the study found. Jobs at the Gregory plant will pay average annual salaries of $60,000
2015 Tianjin Pipe Company announced profits of $2.33 Billion