WSP Holdings Limited, a leading Chinese manufacturer of API (American Petroleum Institute) and non-API seamless casing, tubing and drill pipes used in oil and natural gas exploration, drilling and extraction (OCTG) and other pipes and connectors, announced that it has entered into a definitive agreement with Southern Tube LLC, an affiliate of Nippon Steel & Sumitomo Metal Corporation, for the sale of certain assets of Houston OCTG Group, Inc., its wholly-owned U.S. subsidiary. Under the terms of the agreement, Southern Tube will purchase production facilities held by Houston OCTG, including land, equipment and related permits and licenses, for a total consideration of US$43 million. The transaction is expected to close by the end of November 2012. The closing of the transaction is subject to certain customary closing conditions.