MSS Steel Tubes USA, a subsidiary of MSS Steel Tubes SA (Portugal), has announced its first manufacturing plant setup in Memphis, Tennessee, USA, to strengthen its market presence in the USA market. The company has allotted an investment of USD 6 billion towards the project.
MSS Steel Tubes USA has announced a new manufacturing plant in Memphis, Tennessee, USA. The company has allotted an investment of USD 6 billion for the project which will be its first plant in the USA. The plant will be set in the Shelby County area and manufacturing operations shall be undertaken through the Outland Road facility of the company. The new plant will help the company to strengthen its market presence in the USA market.
MSS Steel Tubes USA is a subsidiary of MSS Steel Tubes Portugal, a cold-roll steel tube manufacturing company. MSS Steel Tubes Portugal has set up the subsidiary along with Metalogalva SA, and Soufer Industrial Limited. Metalogalva SA is a Portugal-based subsidiary of VingentGroup, also the parent group of MSS Steel Tubes, specializing in the designing, engineering, and manufacturing of metal structures. Meanwhile, Soufer Industrial Limited is a subsidiary of Soufer Group involved in the manufacturing of steel products, tubes, sheets, profiles, metal tiles, thermoacoustic tiles, etc.,
Also Read: India Leads USD 533.6 billion Global Gas Pipeline Development; 14,300 km of Pipelines in Construction
Mr. Margarida Caetano, CFO of Metalogalva Group, expressed the company’s elation at the launch of the new plant. He reflected on its impending importance in developing a regional market by addressing the ancillary needs of the existing consumer base, which majorly comprises solar panel manufacturers. He also quoted that location and transportation are determinant factors in the tubes and pipes industry, and the plant will help them focus on the market while cutting down transportation costs.