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Excerpt from Business Times dated November 1, 2000
The Malaysian-registered company, fully incorporated on February 28 1985, has an authorized capital of RM15 million out of which RM13.5 million has been paid up as of December 31 1997. "The company began active operations in November 1990 with 35 employees. Curently we have expanded to a 145-team," said the company's chief executive officer Giancarlo Maccagno. Prior to 1990, all of the company's pipe-coating activities were performed by its holding company, Petro-Pipe Industries Sdn Bhd (Ppi) which is a member of the Wah Seong Industrial Holding Group.
A milestone in the development of PPi's pipe-coating division was the signing of a Technical Collaboration Agreement with Socotherm S.r.L. of Italy in 1984. Under the provision of this agreement, Socotherm, a renowned worldwide pipe coater provided technical support, as personnel to PPi in its quest to venture into the oil and gas industry. Socotherm, established in Vicenza, Italy in 1859, is today the largest owned business serving the coating market worldwide. Since
its incorporation it has expanded its activities to include the
oil and gas industry. ________________________________________________________________________
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Since
1995 it has launched aggressive marketing strategies to capture
overseas markets, especially in the Asia-Pacific region
PPSC
Industries Sdn Bhd is principally involved in pipe coating, installation,
fabrication and related cathyodic protection works.
PPI
began its business in 1983 as a spiral manufacturer catering mainly
for the local construction industry. To supplement its steel pipe
operations, a pipe-coating division was formed in late 1983.