IPSCO to expand large diameter pipe capacity

North American pipe and tube maker IPSCO Inc. has announced that it will proceed with a US$52.5 million expansion of its existing large diameter pipe making facility in Regina, Saskatchewan, Canada. The expansion will include an additional pipe forming mill and related finishing equipment, which the company expects to increase the capacity and productivity of the existing facility in order to capitalize on the tight North American energy pipe market. IPSCO says that the expansion will increase the company's large diameter spiral pipe capacity by two thirds to 500,000 net tons per year by early 2008. "IPSCO will continue to invest in pipe and steel technology and appropriate capacity to keep the company at the forefront of the large diameter line pipe industry on a globally competitive basis," said IPSCO president and CEO David Sutherland. "Our footprint in North America and relationships with key oil and natural gas transmission companies give IPSCO an unparalleled opportunity to continue to be the leader in this business," Mr. Sutherland continued. IPSCO operates four steel mills, eleven pipe mills, nine product finishing facilities and nine scrap processing centers in 25 geographic locations across the US and Canada. The company's main products include: a wide range of seamless and welded energy tubular products including oil & gas pipe, standard pipe and hollow structurals, as well as connections for oil and natural gas drilling and production.