TMK IPSCO to build steel pipe coating facility in Northern Kentucky

FRANKFORT (Scrap Monster): TMK IPSCO- the American division of Russia’s TMK and one of the leading steel pipe manufacturers in the country has announced that it will build a new steel coating facility in Northern Kentucky. The new facility will primarily serve the country’s oil and natural gas distribution sector.

According to reports, the company plans to invest nearly $19.8 million in the new plant, which would be the company’s first steel coating facility. The construction of the facility is expected to commence this summer. The facility will create nearly 40 new jobs in the region.

The new facility will be constructed near its existing plant in Wilder, Kentucky which produces steel pipes used for oil and gas transmission. The Kentucky Economic Development Finance Authority has already given initial approval to tax credits to the tune of $650,000 over 10 years. Under the terms of the tax credit deal, TMK IPSCO is required to maintain at least 95% of its workforce in the Wilder plant. The facility currently employs 379 people. The Wilder plant has per annum capacity of 570,000 tonnes of steel pipes.

TMK IPSCO is one of the largest North American producers of welded and seamless pipe and premium connections dedicated to serving the oil and gas industry and many industrial markets. The company offers expanded range of products to meet the region’s energy tubular needs. Currently, the company operates 12 facilities in North America.