Grants and Contributions:

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Title:

Threading Capability and Plant Automation Upgrade

Agreement Number:

813544

Agreement Value:

$14,706,000.00

Agreement Date:

Feb 19, 2019 - Jun 30, 2021

Description:

Make improvements to facilities enabling the expansion in product capabilities and improving operational efficiencies through automation and equipment upgrades.

Organization:

Innovation, Science and Economic Development Canada

Expected Results:

As a result of the project, the company will be able to supply the Canadian market with more sustainable, reliable, cost-effective products. The company will also expand its product capabilities, which will allow them to better serve Canada's energy sector and meet market demand. This project will create 144 new full-time positions.

Location:

Sault Ste. Marie, Ontario, CA P6C1L9

Reference Number:

033-2019-2020-Q2-813544

Agreement Type:

Other transfer payment

Report Type:

Grants and Contributions

Recipient Business Number:

870995321

Recipient Type:

For-profit organization

Additional Information:

The Amendment has been completed to extend the project agreement end date from 2030-01-01 to 2031-01-01, and reduce the contribution amount from $16M to $14.7. This is a partially repayable contribution.

Amendment Date

May 6, 2021

Recipient's Operating Name:

Tenaris

Recipient's Legal Name:

Algoma Tubes Inc

Federal Riding Name:

Sault Ste. Marie

Federal Riding Number:

35092

Program:

SIF - Steel and Aluminum Program

Program Purpose:

-Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services;-Facilitate the growth and expansion of firms in Canada;-Attract and retain large scale investments to Canada; and-Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.

NAICS Code:

331210

Amendments:

See Amendments