UMVA has learned that Tenaris, a global steel manufacturer, has committed a staggering $306 million to modernize and expand its operation in Ontario, a move that promises to bolster Canadian energy exports and create new job opportunities.
The investment, announced at a press conference in Sault Ste. Marie, will see the company add another 200 people to its workforce in the region, with plans to continue growing its team and providing opportunities for training and development. Martin Castro, president of Tenaris Canada, hailed the investment as a key step towards helping Canada realize its ambition to become an energy superpower.
Tenaris, the lone Canadian producer of seamless oil country tubular goods (OCTG), plays a critical role in the country's energy sector, supplying pipes used to drill and complete oil and gas wells across Canada. With a current workforce of approximately 800 employees in Sault Ste. Marie and 25,000 globally, the company is a significant player in the industry.
Sault Ste. Marie Mayor Matthew Shoemaker welcomed the investment, describing Tenaris as a "cornerstone of Sault Ste. Marie's industrial economy" and praising the company's continued confidence in the local workforce and community. The mayor's sentiments were echoed by Premier Doug Ford, who hailed the investment as a "strong vote of confidence" for Ontario's workers.
The province is also supporting Tenaris' expansion with a $72 million investment through the Invest Ontario Fund. Invest Ontario CEO Khawar Nasim said the fund would help the company navigate programs, connect with partners, and coordinate across government to support its growth plans and job creation efforts.
With its headquarters in Luxembourg and a presence in major energy markets worldwide, Tenaris is well-positioned to capitalize on emerging opportunities in the sector. The company's investment in Ontario reflects the strength of the province's manufacturing sector and the vital role Northern Ontario plays in supporting Canada's energy supply chain.
