IPSCO - Pipe Finishing Expansion Completed In Red Deer


Back to News Pipe Finishing Expansion Completed In Red Deer Lisle, Illinois, September 2, 2004 - IPSCO Inc. (NYSE/TSX:IPS) announced today it has successfully commissioned its second pipe finishing facility at its Red Deer, Alberta Pipeworks. Completion of the expansion demonstrates IPSCO's commitment to continually improve and add value to its operations. The new line will double the Red Deer Work's finishing capacity for casing and line pipe, provide improved service to customers, and an improved return for shareholders. "This second finishing line not only significantly expands our finishing capacity, it allows us to better optimize our production flows and has been designed to have the capability of processing a wide range of products," said IPSCO's Vice President and General Manager, Tubular Products, David Britten. Construction on the new facility began this past spring and has come on stream in time to help meet the expected high demand for IPSCO's tubular products in the coming months. "As a result of the new line, approximately 25 new employees have been hired while recruiting is underway for up to an additional 25 other workers," added Britten.
Terry Bilida, an operator at the new threading mill in Red Deer, secures a coupling on IPSCO pipe. Larger view
IPSCO operates steel mills at three locations and pipe mills at six locations in Canada and the United States. As a low cost North American steel producer, IPSCO has a combined annual steel making capacity of 3,500,000 tons. The Company's tubular facilities produce a wide range of tubular products including line pipe, oil and gas well casing and tubing, standard pipe and hollow structurals. This news release contains forward-looking information with respect to IPSCO's operations and beliefs. Actual results may differ from these forward-looking statements due to numerous factors, including, but not limited to, weather conditions affecting the oil patch; drilling rig availability; demand for oil and gas; supply, demand and price for scrap metal and other raw materials; supply, demand and price for electricity and natural gas; demand and prices for products produced by IPSCO; general economic conditions and changes in financial markets. These and other factors are outlined in IPSCO's regulatory filings with the Canadian securities regulators and the Securities and Exchange Commission, including those in IPSCO's Annual Report for 2003, its MD&A, particularly as discussed under the heading "Business Risks and Uncertainties," its Annual Information Form, and its Form 40-F. Company Contact: David Britten Vice President and General Manager, Tubular Products Tel. 630-810-4792 Release 04-29 Back to News