Benteler Steel/Tube to Build Facility in Louisiana
Germany’s Benteler Steel/Tube today announced it will invest approximately $900 million to build a new hot-rolling tube mill in Caddo, La., in an effort to strengthen its position in the North American oil-country tubular goods (OCTG) market. The mill will be the company’s first U.S. production facility and will create more than 1,000 construction jobs, an estimated 675 full-time jobs when at full capacity, and numerous indirect jobs with suppliers and service providers to the plant. Groundbreaking on the new facility is scheduled for the spring of 2013, and completion is planned for the second half of 2015. In the initial phase, Benteler will build a hot-rolling tube mill along with several finishing lines for the production of seamless-tube solutions.