Lakeside Steel investing $5M to expand Welland facility
WELLAND, Ont.: Lakeside Steel Inc. is investing $5 million in an expansion of its Welland, Ont. operations.
Its Lakeside Steel Corp. subsidiary, a steel and pipe manufacturer, will get a casing threading line to perform work that is currently outsourced to companies in Texas, Alberta and Ontario.
The company said it’s also engaging an outside consulting firm to review the feasibility of adding a new slitting line to process the hot band steel used as raw material at its Welland facility.
Lakeside, which currently contracts all of its slitting business to three Ontario-based processors, expects an in-house slitting line to “improve margins, reduce costs and provide improved flexibility in raw steel purchasing.”
When fully operation, the new lines will create 40 new jobs.