As part of its planned capital expenditures for this year IPSCO has approved the expenditure of $17.7 million for the installation of a vacuum degasser at its Montpelier, Iowa Steelworks to provide a more sophisticated and extensive range of steel products.
In a second planned investment for 2006, the company has approved an expenditure of $27.5 million on a coil preparation facility and other related enhancements to its large diameter spiral pipe mill operations located in Regina, Saskatchewan.
The new prepping area and equipment modifications will improve yield and productivity, as well as increase capacity in excess of 25 percent from these mills. Upon completion of the project, IPSCO's annual large diameter capacity, which is dependent on varying pipe diameters, may exceed 375,000 tons.
Both upgrades are expected to be operating by the third quarter of next year.
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