Ternium USA to Invest $ 98 Million in Shreveport Facility Expansion
Ternium USA Inc. plans to expand its facility at the Port of Caddo-Bossier with an investment of $ 98 million. The company retains 157 jobs and the project will create 35 new direct jobs with an average salary of $ 69,000, plus benefits. Louisiana Economic Development estimates that the project will create 98 indirect jobs, for a total of 133 new jobs in the northwestern Louisiana region.
Ternium, a leading steel producer in the Americas, is adding a second continuous coating paint line with an annual capacity of 120,000 tonnes, which will increase its production capacity in the United States by 53%, between other improvements. The continuous coating process involves cleaning, treating and painting a flat sheet that is wound into coils. The reinvestment in the Shreveport facility is the latest addition to Ternium’s goal of providing a comprehensive menu of state-of-the-art options for the steel construction industry.
“Louisiana’s manufacturing industry provides thousands of good jobs across our state, and I am delighted to announce an investment that will continue to grow this key sector of our economy,” said Governor John Bel Edwards. “Ternium’s expansion to the port of Caddo-Bossier will bring new jobs and economic momentum to the Northwest region of our state. Ternium’s decision to reinvest in its Shreveport plant is a testament to Louisiana’s welcoming business climate, highly skilled workforce, and world-class transportation infrastructure.
Construction of the facility expansion will begin in the first quarter of 2022. The company expects commercial operations on the added production line to begin by mid-2024.
“This new coil coating expansion at Shreveport is part of our strategy to support the joint growth of our business and that of our loyal customers by adding additional volume, lineup and services to our existing local platform,” said Michael Guhl, President of Ternium. UNITED STATES. “We thank Governor Edwards and the LED team for their tireless work on behalf of the great community of Shreveport and their support for local manufacturing, and we look forward to continuing to invest in our people and production capabilities. ”
To secure the Caddo-Bossier Port project, the State of Louisiana provided Ternium with a competitive incentive program that includes the full services of LED FastStart – the # 1 workforce development program in the country over the past 12 years. In addition, the company will receive a performance-based award of $ 1 million from the Economic Development Awards Program to support infrastructure costs. The company should use the state’s quality employment and industrial tax exemption programs.
“We are delighted with Ternium USA’s continued commitment to Caddo Parish,” said Lyndon B. Johnson, Chairman of the Caddo Commission. “Ternuim’s investment of $ 98 million to improve the production capacity of the Port of Caddo-Bossier creates additional well-paying jobs for our citizens and widens the economic footprint of the Parish of Caddo. We look forward to the possibilities that this investment will bring. “
“Ternium USA strengthens our community, and by adding these new, well-paying and retained jobs, they continue to have a noticeable impact,” said Justyn Dixon, President and CEO of the North Louisiana Economic Partnership. “We are proud that such a strong company consolidates its commitment to the region through continued investment and job creation. This significant investment speaks volumes for the community of Caddo Parish and proves that northern Louisiana can gain in advanced manufacturing.
“This is exciting news for the Port of Caddo-Bossier and Northwest Louisiana,” said Eric England, Port Executive Director. “Our team’s priority is to build a solid working relationship with all of our tenants, while fulfilling our mission to be an important economic driver for the Caddo and Bossier parishes. So when one of our current tenants announces an expansion like this with new jobs for the area, it shows that we are doing our job.