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TGN |
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Demand for our welded pipe products, which has been weak during the past three quarters following gas pipeline project delays in Brazil and Argentina, is expected to recover in the fourth quarter and rebound strongly in 2007 following the receipt of orders for the 1,000 km GASCAV phase of the GASENE project in Brazil and the 1,100 km loops expansion project for the TGN and TGS pipeline networks in Argentina. The company's product pipeline includes clinical stage candidates, TGN 255, TGN 167 and PR-15 and also an extensive portfolio of exciting preclinical and discovery stage programmes targeting thrombosis, atherosclerosis and other cardiovascular pathologies. The ratings apply to approximately $454 million of new notes to be issued by TGN under its recently announced exchange offer. |
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