TMK IPSCO Breaks Ground on Expansion

Officials with TMK IPSCO and Ferrous Metals Processing have broken ground on an expansion of a project in Wilder, Ky. The expansion is expected to include a $27.6 million investment at the facility.
 

Kentucky Gov. Steve Beshear has joined community leaders and officials from TMK IPSCO and Ferrous Metal Processing  to celebrate a partnership that will entail the investment of $27.6 million in Northern Kentucky.
 

With the assistance of state tax incentives approved in early 2011, pipe producer TMK IPSCO will make a number of investments at its Kentucky facility. The latest component of the expansion will be the recruitment of Ferrous Metal Processing, which will locate on an adjacent property.
 

TMK IPSCO and Ferrous Metal Processing have entered into an agreement for the installation of a new slitting line, adding another $12 million investment to the region. Ferrous will own and operate the new facility and slit steel coils for TMK IPSCO on a toll basis. The companies have entered into a 12-year contract in which Ferrous will provide 100 percent of TMK IPSCO’s slitting needs for the production of pipe at the Wilder plant.

 

Officials broke ground on the soon-to-be constructed 43,000-square-foot building, which is expected to start commercial production in the fall of 2012.
 

“We are very excited to be continuing to expand our operations in Northern Kentucky,” Vicki Avril, TMK IPSCO president and CEO, says. “Between the government support and the talented workforce here, we should be able to turn what has been a struggling operation into one that is financially viable, superior in quality and competitive in our industry. It’s a win for the state, for this community, for our company and for these employees," he adds.
 

“Our long experience in toll processing for IPSCO makes this a natural step for us and for TMK IPSCO," Ed Gonzalez, Ferrous Metal Processing president, says. We are proud to have an opportunity to enhance TMK IPSCO’s reputation as a premier supplier of ERW pipe. We are also very pleased with the efforts and assistance provided by our hosts in Kentucky, as they have worked hard to make our entry into the Wilder location go smoothly.”
 

To encourage the economic development opportunities in Northern Kentucky, the Kentucky Economic Development Finance Authority (KEDFA) approved TMK IPSCO for tax incentives up to $5 million through the Kentucky Reinvestment Act. Ferrous Metal Processing received preliminary approval by KEDFA for up to $400,000 in tax benefits through the Kentucky Business Investment Program.