Maverick Tube plant may send work to South America

Maverick Tube plant may send work to South America

St. Louis, Missouri-based Maverick Tube Corporation is mulling a decision to redirect work on its Louisville, Kentucky plant to recent business acquisitions in Colombia. Last year Maverick announced it would build a $63 million plant in Louisville. Construction started only a few months ago and currently employees 243 people. In the meantime, the company has acquired two Colombian firms, of which one makes oil and gas piping and the other conduit. Maverick must decide wisely. The company received tentative approval for $7.5 million in income-tax credits for creating jobs. If it does not stick to the 243 person figure, it could lose the credits and end up paying more taxes to the state of Kentucky. Maverick Tube is the leading North American producer of tubular steel products used in energy and industrial applications.