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Lakeside Steel gets $22 million loan for new pipe mill

Welland-based steel maker has secured $42 million in new credit in 2011 to finance capital needs


October 11, 2011
by CanadianManufacturing.com Staff

WELLAND—Lakeside Steel Inc. has set up a five year $22 million loan with LSA Thomasville LP, a Delaware limited partnership.

The steel-maker will use the money to build its new pipe mill in Thomasville, Ala. and  finance working capital needs.

Lakeside says it expects to draw from the credit line in the next five months.

The company has now secured $42 million in new credit in 2011.