FedNor Distributes $ 5 Million for Tenaris Upgrades and Expansion (Updated)

0
32


Tenaris Algoma Tubes Inc. is receiving $ 5 million in funding from FedNor for the continued expansion of its manufacturing capabilities at its local pipe manufacturing facility.

Sault Ste. Marie MP Terry Sheehan said the funding will enable the company to create a “premier steel tube industrial center” with the construction of a new plant linked to its electrical resistance welding operations and upgrades. information technology to improve automation within Tenaris. $ 36.3 million upgrade project.

The funding is expected to create 75 full-time positions and an additional 50 jobs during the construction phase by the end of next year.

“This investment will give Tenaris the opportunity to expand Canadian manufacturing to Sault Ste. Marie, support innovation and further efforts to replace imports with products made in Canada, ”Sheehan said in a statement. “Additionally, the project will increase sales and strengthen the company’s alliance with Algoma Steel, thereby increasing the competitiveness of the local industry.”

“It is indeed a win-win solution for the region and the country.”

Tenaris Vice President of Industrial Relations David McHattie praised Sheehan’s “active role” in addressing recent industry challenges, including unfair trade and trade issues impacting the industries of the steel and manufacturing in Canada.

“Terry’s has helped policy makers and concerned ministers understand how these challenges are affecting communities like Sault Ste. Marie, and ensured that as solutions were developed, they had been developed with communities like ours in mind, ”McHattie said in Tuesday’s virtual announcement.

Tenaris Algoma Tubes Inc. received $ 16 million last year under the federal government’s Strategic Innovation Fund for its upgrade project.

Last week, the provincial government announced $ 9 million in funding for the steel pipe maker to increase production capacity and create jobs locally.

Original story:

Tenaris Algoma Tubes Inc. will receive funding from FedNor of $ 5 million for the expansion and modernization of the company in Sault Ste. Installation of Marie.

Sault Ste. Marie MP Terry Sheehan said the funding is expected to create 75 full-time jobs by the end of 2021.

LEAVE A REPLY

Please enter your comment!
Please enter your name here