Algoma Tubes wins Business Development Award

Algoma Tubes today won the Business Development Award, presented by the Sault Ste. Marie Chamber of Commerce.

The award was accepted by Algoma Tubes Managing Director Jorge Mitre (shown).

The following material was supplied to SooToday.com by the Chamber:

*************************** Business Development Award

Sponsored by Business Development Bank of Canada

This award is presented to a business that demonstrates a positive attitude for job creation and growth within the community.

The Business Development Bank of Canada sponsors the Business Development Award.

Company Profile

AlgomaTubes, is a Canadian subsidiary of Tenaris who leased the seamless tube mill from Algoma Steel in 2000.

They are the sole Canadian producer of seamless steel tubes for the domestic energy and industrial market.

The company has a strong manufacturing tradition, supported by technological excellence.

They the Canadian member of Tenaris Group, a leading global manufacturer and supplier of seamless steel pipe products and provider of pipe handling, stocking and distribution services to the oil and gas, energy, mechanical and automotive industries.

Tenaris is also a leading regional supplier of welded steel pipes for gas pipelines in South America. With manufacturing facilities in Argentina, Brazil, Canada, Italy, Japan, Mexico and Venezuela and a network of customer service centers in over 20 countries, Tenaris offers a service that integrates manufacturing, procurement, distribution and on-time delivery of high quality products throughout the world.

With a combined production capacity of three million tons of seamless and 850,000 tons of welded steel tubes, annual sales of 3.0 billion dollars and 14,000 employees in five continents, Tenaris is a leading supplier of tubular goods and services to the global energy and mechanical industries.

Algoma is employing 380 people, out of which 180 were hired during the year 2002/2003 in order to meet the needs of an increasing activity due to the consolidation and further development of company operations.

The mill has an annual production capacity of 250,000 tons, and it has been doubling its production annually in the last 2 years.

All this process of continuous expansion and commitment with the Canadian market naturally lead to the decision in May of this year to sign a letter of intent with Algoma Steel to purchase the mill.

Congratulations Algoma Tubes!

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To read about other winners of this year's Chamber of Commerce Business Awards, please click here.