Lakeside Steel to Increase End Finishing Production
04/01/2010 - Lakeside Steel Inc. will increase production in its Upsetting and Threading Operation via additional production shifts to meet significantly stronger demand for its end-finished OCTG products booked for the quarter ending June 30, 2010.
Lakeside Steel Inc. will increase production in its Upsetting and Threading Operation via additional production shifts to meet significantly stronger demand for its end-finished OCTG products booked for the quarter ending June 30, 2010.
The company claims that the increased demand has been driven by the enhanced end-finishing capabilities of its new upsetting and threading operations, which became operational in December 2009, as well as by increased prices for oil and natural gas. Favorable rulings in OCTG-related trade cases in Canada and the United States involving Chinese manufactured products have also positively impacted Canadian OCTG manufacturers.
Lakeside has secured enough orders for the new facility to remain at capacity for the entire first quarter, and it continues to receive orders beyond June 30.
"We are encouraged with the recent increases in demand and pleased that Lakeside has been able to respond quickly to the demand for the higher-value-added products that our new facility produces,” said Ron Bedard, Lakeside Steel's President and COO. “Our upset and threading capabilities are the newest in North America and have positioned the company to take full advantage of the increased demand we are seeing in 2010. We continue to focus on cost reduction, margin enhancement, and growth opportunities."
Lakeside Steel, located in Welland, Ont., is a diversified steel pipe and tubing manufacturer. Its customers include large oil and gas, mining, automotive, and commercial and industrial supply companies. The company also manufactures pipe and mechanical tubing for the resale market, which is sold to distributors in Eastern Canada and the Northeastern United States. Lakeside manufactures a variety of products for these industries including oil well tubing and casing, mechanical tubing, pressure tubing, automotive tubing, hollows for redraw, line pipe, heating and plumbing pipe, drill rod, and specialty tubing.
