Steel Reserve posted its best quarterly production in four years, and its production surged after the Alberta government gave a green light to new equipment for the industry.
Steel Reserve CEO Michael Cimperman said the news was “extremely exciting.”
“The number of customers that we’ve been able to connect to our new production facilities in Alberta has been fantastic,” Cimp says.
Steel Reserve is the largest steel producer in Canada, with 1.3 million barrels of oil equivalent produced in 2016. “
We are also seeing a significant increase in demand from the Canadian Steel industry as a whole.”
Steel Reserve is the largest steel producer in Canada, with 1.3 million barrels of oil equivalent produced in 2016.
The company is expanding its production capacity and has also added a new facility in Fort McMurray, Alta.
The province approved a $9.2-billion project last year to develop and expand a new production site.
In a statement, Premier Rachel Notley said the province is working to support Steel Reserve’s efforts to grow its operations in Alberta.
“Our government is committed to providing a secure supply of high quality steel for our steel industry,” Notley says.
“Steel Reserve will continue to be a major source of steel for Alberta.”
Steel reserve, steel rod, steel bar, steel reserve, energy source The Canadian Press