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Global steel manufacturer Tenaris has committed $306 million to modernize and expand its operation in Ontario.
“Our steel pipes have a key role to play in bolstering Canadian energy exports, supporting the world’s increasing natural gas needs,” Martin Castro, president of Tenaris Canada, said at a press conference Friday morning in Sault Ste. Marie.
“We are adding another 200 people to our workforce in The Soo, and we want to continue growing our team, providing opportunities for training and development. I believe investments like these not only push Tenaris into the future but also take Canada a step closer to realizing its ambition to become an energy superpower.”
Tenaris is the lone Canadian producer of seamless oil country tubular goods (OCTG), which are pipes used to drill and complete oil and gas wells across the country. Tenaris currently employs approximately 800 workers in Sault Ste. Marie, and 25,000 people worldwide.
Sault Ste. Marie Mayor Matthew Shoemaker welcomed the company’s investment.
“Tenaris has been a cornerstone of Sault Ste. Marie’s industrial economy for more than 25 years, and this latest investment reflects continued confidence in their local workforce, our community and the future of manufacturing in Northern Ontario,” Shoemaker said.
“At a time when many local workers and families are facing economic challenges, Tenaris is once again helping create new opportunities and supporting long-term economic stability.”
‘Vote of Confidence’
Headquartered in Luxembourg, the company has a presence in major energy markets across the Americas, Europe, the Middle East, Asia and Africa.
Premier Doug Ford, who also attended the announcement, said the additional money is “a strong vote of confidence” for Ontario’s workers, and will also help protect the province “by building a more competitive and resilient economy.”
“Our government will continue to stand up for workers in industries impacted by tariffs both here in Sault Ste. Marie and across Ontario by diversifying our economy, finding new trading partners and supporting new pipelines, rail lines and other projects that use Ontario steel to open up new markets for Ontario products around the globe,” Ford said in a statement .
Investing in the future
The province is also kicking in $72 million through the Invest Ontario Fund .
“Tenaris’ expansion reflects the strength of Ontario’s manufacturing sector, and the vital role Northern Ontario plays in supporting Canada’s energy supply chain,” Invest Ontario CEO Khawar Nasim said.
“Invest Ontario can help the company navigate programs, connect with partners and coordinate across government. We are pleased to support Tenaris as it looks to grow its operations and continue creating jobs in Northern Ontario.”