Tianjin Pipe Weighing Sale of $1.3 Billion Texas Steel Mill, Sources Say

Vinicy Chan and

Dong Cao

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Tianjin Pipe Corp., a state-backed maker of seamless steel pipe, is considering selling its Texas-based steel mill for at least $1.3 billion, according to people familiar with the situation.

The company is gauging interest in the Gregory, Texas-based site mostly from industry peers based in the US, the people said, asking not to be identified discussing a private matter. It is in talks with potential advisers on the sale, one of the people said.