Tamsa eyes 90% capacity at cold drawing plant

Tamsa, the Mexico-based steel tube unit of Luxembourg-based Tenaris (NYSE: TS), aims to achieve roughly 90% production capacity this year at its newly upgraded cold drawing plant in Veracruz state, Tenaris official José Ramón Calderón told BNamericas. The Mexican company officially launched the US$4.5mn upgrade March 2, expanding the plant's annual production capacity to 14,000t from 9,000t, said Calderón, Tenaris investor relations executive. The plant will largely serve the automotive industry. Clients invited to the expansion ceremony included auto parts companies such as American Axle & Manufacturing de Mexico, San Luis Rassini and Benteler. Argentina's Techint group owns 60% of Tenaris, which owns 99.9% of Tamsa.