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A manufacturer of shell and tube heat exchangers for the oil and gas industry plans to establish a new tube mill in Northeast Mississippi, state and company officials announced.
Edmonton, Alberta-based Altex Tube said it would invest nearly $110 million in a manufacturing plant on the Columbus, Mississippi, campus of steel maker Steel Dynamics. The facility will produce black and pre-galvanized steel tubing from Steel Dynamics coils.
Altex President and CEO Zach Smith said the tubes would range from 1 inch to 6 inches square and 1.25 inches to 7.625 inches round. The company will offer thicknesses between .06 inches to .375 inches, and the tubes could be as long as 48 feet.
“As a Mississippi State graduate, I’m thrilled to be relocating back to Mississippi,” Smith said in the announcement.
Construction is scheduled to begin this summer. It will take place in two phases and production in the first phase is expected to begin in mid-2023.
The state, county, and city are each expected to provide financial assistance, but amounts were not disclosed. The project is slated to create 58 direct jobs over three years.
Steel Dynamics executives said the plant would “add value to our mutual customers” while providing products and supply chain solutions to “the growing needs of the structural tube market.”
Image Credit: Mr.PK / Shutterstock.com
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