Tenaris Algoma Tube, a seamless steel pipe producer based in Sault Ste. Marie, Canada, will be laying off staff just ahead of the festive season, according to an online report.
The company plans to let go of 90 members of staff – a 25% production reduction – and is describing its decision as a temporary layoff due to challenging market conditions.
Tenaris claims that a surge in energy tubular imports diverted to Canada from third countries unable to export to the USA plus a decline in Algoma Tube’s export sales to the US are behind the layoffs, not forgetting the price of oil and gas.
Guillermo Moreno, president of Tenaris Canada, said the company was committed to domestic manufacturing and serving the country’s energy industry.
Operations will be suspended from 15 December 2018 until 7 January 2019.
Source: CTV Northern Ontario