Welland, Ontario-based pipe and tubing manufacturer Lakeside Steel Inc. announced Wednesday an expansion of its credit facility. The improved credit facility represents an increase of $27,500,000 from its original amount to total $67,500,000-$7,500,000 of which is a term loan-with its lender CIBC Asset-Based Lending Inc.
The expanded credit facility will be used to support the growth of Lakeside Steel in Alabama, and gives Lakeside Steel, Inc. added flexibility to pursue other business opportunities that may develop in the future.