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Idled Canadian OCTG Mill to Restart This Summer
03/27/2017 - Tenaris Prudential said it will restart its idled tube mill this summer and plans to recall approximately 100 employees, the company has announced.
“After two very difficult years, it is energizing to be restarting production at our Prudential facility,” Guillermo Moreno, vice president and managing director for Tenaris in Canada, said in a statement.
Tenaris shuttered the mill, which makes welded line pipe, casing and tubing, about two years ago on account of low oil and gas prices and competition from low-cost imported products. But now, the company said, the market appears to be improving.
“Growth opportunities through our Rig Direct™ commercial strategy, greater stability in oil and gas prices, trade remedies against certain unfair trade, and a renewed commitment from our employees has given us the confidence to resume operations,” Moreno said.
The announcement follows an agreement with Local 7226 of the United Steelworkers union. Production is to resume in July, Tenaris said.
Tenaris shuttered the mill, which makes welded line pipe, casing and tubing, about two years ago on account of low oil and gas prices and competition from low-cost imported products. But now, the company said, the market appears to be improving.
“Growth opportunities through our Rig Direct™ commercial strategy, greater stability in oil and gas prices, trade remedies against certain unfair trade, and a renewed commitment from our employees has given us the confidence to resume operations,” Moreno said.
The announcement follows an agreement with Local 7226 of the United Steelworkers union. Production is to resume in July, Tenaris said.
