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Blytheville plant announces $40 million expansion Wednesday, Jan 24, 2007 Arkansas News Bureau LITTLE ROCK - A new plant to produce heat treated oil country tubular goods will be added to IPSCO Inc.'s Blytheville pipe mill, the company announced Tuesday. The expansion will generate about 40 new jobs, the company said. IPSCO produces oil and gas well casing and tubing, line pipe, standard pipe and hollow structures, as well as premium connections for oil and natural gas drilling production. Commercial production at the planned new facility is expected to begin in the third quarter of 2007, the company said. Combined with the company's four existing plants in Oklahoma, Pennsylvania and Canada and another planned plant in Texas, overall production will increase by 100,000 tons to 575,000 tons annually, the company said. "We believe this expansion will enhance our competitive position in the United States and better serve our customers through expanded product offerings," IPSCO Senior Vice President Joseph Russo said. IPSCO bills itself as a low-cost North American steel producer with a combined annual steel-making capacity of 4.3 million tons. IPSCO shares (NYSE: IPS) closed at $93.63 Tuesday, up $3.68, or 4 percent. |
