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Northwest Pipe no Longer in Compliance for NASDAQ Listing
11/18/2009 - Northwest Pipe receives notice that it is no longer in compliance with NASDAQ Listing Rule 5250(c)(1) due to the late filing of its Quarterly Report on Form 10-Q for the quarter ended September 30, 2009.
Northwest Pipe Co. has received notice from the NASDAQ Stock Market stating that it is no longer in compliance with NASDAQ Listing Rule 5250(c)(1) because it did not timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2009.
The company has 60 calendar days, or until January 11, 2010, to submit to NASDAQ a plan to regain compliance with the Listing Rules. If the NASDAQ Stock Market staff accepts the plan, the NASDAQ staff can grant an exception of up to 180 calendar days (until May 10, 2010) for the company to regain compliance.
The company said it intends to either file its Form 10-Q for the quarter ended September 30, 2009 or submit to NASDAQ a plan to regain compliance by January 11, 2010.
Northwest Pipe manufactures welded steel pipe and other products in two business groups. Its Water Transmission Group is a leading supplier of large diameter, high-pressure steel pipe products that are used primarily for water infrastructure in North America. Its Tubular Products Group manufactures smaller diameter steel pipe for a wide range of applications including construction, agricultural, energy, traffic and other commercial and industrial uses. Headquartered in Vancouver, Wash., the company has manufacturing operations in the United States, Mexico, and Indonesia.
