- Funding Needed
- $41.5 (Mio)
- EB5 Funding
- $22 (Mio)
- EB-5 Investors
- Investment Amount
- Iron and Steel Mills and Ferroalloy Manufacturing
- Lakeside Steel Inc, Thomasville, Alabama
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LAKESIDE STEEL INC
Lakeside is a 2010 and 2011 TSX Venture Exchange 50 company and a diversified steel pipe and tubing manufacturer. Lakeside’s list of customers includes large oil and gas, mining, automotive and commercial and companies. For fiscal 2010, the oil and gas sector made up approximately 70% of total revenues. For the same period, revenues from the mining, commercial and industrial, and automotive sectors comprised approximately 1%, 20%, and 3% of total revenue, respectively.
The total cost of the Alabama expansion project is estimated at $40,000,000 comprised of $22,000,000 for the plant and equipment and $18,000,000 for inventory and working capital, including incentives. Thomasville, Alabama was chosen because of its proximity to both raw material suppliers and customers. Lakeside believes strongly that Alabama provides the right environment in which to operate a manufacturing business and Thomasville specifically will be conducive to a productive and profitable operation for years to come.
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