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Steel News August 05, 2019 10:30:09 AM

Tenaris to Invest CAD$ 36 Million in Steel Pipe Mill Upgrades

Paul Ploumis
ScrapMonster Author
The proposed upgrades are expected to complete before end-2020 and are projected to create additional 90 full-time jobs, upon full operation.
Tenaris to Invest CAD$ 36 Million in Steel Pipe Mill Upgrades

SEATTLE (Scrap Monster): Tenaris, with assistance from the Federal Government, will invest CAD 36 million at its Canadian steel mills. The investment is aimed at improving operational performance and expanding its product capabilities at various seamless and welded steel pipe mills, in order to meet rising demand from the oil and gas sector. The proposed upgrades are expected to complete before end-2020 and are projected to create additional 90 full-time jobs, upon full operation.

According to company press release, it emphasizes on installation of a new premium connections Line, which will thread TenarisHydrill proprietary Wedge and Blue Series connections. The investment at AlgomaTubes in Sault Ste. Marie, ON will also lead to expanded capacity for sour service grades and new outside diameters.

ALSO READ: Tenaris Announces $1.2B Acquisition of IPSCO Tubulars, Inc

Apart from this, the company also plans to allocate part of the investment towards an improvement project at Prudential welded pipe mill in Calgary, AB. The project will upgrade ultrasonic equipment for line pipe testing at the facility.

Guillermo Moreno, President, Tenaris noted that the expansion of the company’s service offerings is crucial to support the country’s energy industry. The new investment will also help to strengthen its Rig Direct® business model and customer support platform. It demonstrates the company’s ongoing commitment to the safe, efficient development of the country’s energy resources. Furthermore, it will help expand the company’s range of product offerings to domestic market.