Russel completes upgrade of Stoney Creek plant
STONEY CREEK A $7-million upgrade to a local steel plant has been completed.
Russel Metals Inc. announced recently it has finished the installation of a new roller at its B&T Steel division here, completing an upgrade that started in November.
The new hydraulic roller leveller is designed to process three-quarters of an inch thick coiled steel up to 72 inches wide on the company’s heavy-gauge production line.
In a news release, the company said the upgrade would allow it “to provide superior quality products with industry leading flatness.”
The latest installation is the second half of a project the company announced last November. The first phase involved installation of a stretcher leveller to its light gauge line.
Russel bills itself as one of the largest metals distribution companies in North America. It does business in the metals service centres, energy products and steel distribution sectors under several names including Russel Metals, A.J. Forsyth, Alberta Industrial Metals, Apex Distribution, B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars and others.
In August, the company reported second quarter profits of $20 million, down from $23 million in the same quarter last year. Revenues in the metals service centre segment slipped 13 per cent to $378 million in the second quarter due to a combination of lower demand and prices.
Article courtesy of The Hamilton Spectator