Northwest Pipe (NASDAQ:NWPX) makes large-diameter, high-pressure steel pipe products used for water transmission. It also moved into the oilfield country tubular goods market close to the time energy prices began to plummet, which hurt growth and revenues. It’s moving out of that business and concentrating on what we think it does best, making us confident in its recovery potential.
From the Royce Opportunity Fund fourth quarter 2015 commentary.
