Lakeside Steel to Build New Finishing Facility in Thomasville
03/25/2011 - Lakeside Steel Inc. has announced plans to build a new USD $7.5-million state-of-the-art end-finishing and heat treatment facility in Thomasville, Ala.
Lakeside Steel Inc. has announced plans to build a new USD $7.5-million state-of-the-art end-finishing and heat treatment facility in Thomasville, Ala.
The new facility will be located approximately five miles from the new casing mill the company is currently building in Thomasville, for which the company continues to receive strong support from the City of Thomasville, Clarke County and the State of Alabama. While the company conducted diligence on several locations, Lakeside believes strongly that the Thomasville location will provide the greatest benefit to all stakeholders.
The new end-finishing and heat treatment facility will enable Lakeside Steel to upgrade and process the high value-added American Petroleum Institute-certified J, L, N and P grades of OCTG products that are required throughout the majority of drilling operations in North America.
"Today's announcement is a sign of Lakeside Steel's faith in Thomasville and surrounding areas as well as the State of Alabama,” commented Ron Bedard, President and Chief Operating Officer. “Once operational, this facility will provide the company with state-of-the-art end-finishing and heat treat facilities that will allow Lakeside to produce competitive, quality products close to our end-use markets. Lakeside continues to focus on having some of the newest and most cost-effective assets in the industry."
The announced project remains subject to customary conditions and the execution and delivery of definitive agreements, including agreements involving the City of Thomasville, the Industrial Development Board of the City of Thomasville, and Clarke County Alabama.
Lakeside Steel is the parent company of Lakeside Steel Corp. a diversified steel pipe and tubing manufacturer located in Welland, Ont., with a focus on manufacturing and upgrading Oil Country Tubular Goods. Lakeside's list of customers includes large oil and gas end users as well as distributors across North America.
Lakeside Steel also indirectly wholly owns Lakeside Steel Alabama, which will be a diversified steel pipe manufacturer strategically situated in the southern United States on successful completion of the construction of the new facility in Thomasville, Ala.
