Ontario, Canada-based pipemaker Lakeside Steel Inc. announced on June 1 that, due to an increase in demand for its American Pipe Institute (API) approved oil country tubular goods (OCTG), it will add an additional shift to its stretch reduction mill (SRM).
The company said that, to support the increased demand, up to 12 new full-time employees will be hired immediately, adding that the company has secured additional sales orders of approximately $100 million that will keep the mill loaded to capacity through September 2010.
Ron Bedard, Lakeside Steel's president and COO, stated, "We are cautiously optimistic that this strong operational performance will continue over several quarters. Lakeside continues to focus on reducing costs, improving our balance sheet and potential opportunities for growth."