Jindal Tubular USA acquires PSL plant at Port Bienville
By Echo Staff
Sep 2, 2014, 20:30
The $6 million expansion of the former PSL North America plant in Port Bienville Industrial Park is moving forward under the new ownership of Jindal Tubular USA.
Jindal Tubular USA acquired the assets of PSL North America for $104 million. The sale, which was approved by the U.S. Bankruptcy Court for the District of Delaware, was announced today.
The manufacturing and coating plant at Port Bienville is capable of producing more than 300,000 tons of pipe a year. ranging from 18 inches to 120 inches and up to 80 feet in length.
The pipes are used primarily of natural gas, petroleum and water transmission.
"The sale of PSL North America to Jindal Tubular is the culmination of months of effort to save the Hancock County facility and countless local jobs," said Hancock County Port and Harbor Executive Director Ashley Edwards. "Jindal Tubular has already been a tremendous partner for Hancock County, as they've quickly begun constructing the plant expansion and will soon begin the process of increasing the number of jobs at their Port Bienville operation. Under Jindal Tubular's leadership, the Port Bienville plant will become one of the finest pipe facilities in the world and one of the largest employers in Hancock County. We welcome Jindal Tubular to the Hancock County industrial family and we look forward to the economic growth they will create."
The new expansion will broaden the range of products the facility can produce, adding cement-coated steel pipe for use in water transmission to the existing line of products.
Edwards said Jindal expects to maintain more full-time jobs at the Port Bienville facility than PSL created during their tenure.
He said Jindal is already in the process of planning additional expansions at the Port Bienville facility.
"PSL North America LLC brings remarkable experience and expertise in the manufacturing of large diameter, high pressure steel pipe utilizing state-of-the-art HSAW technology. We look forward to teaming up with Jindal SAW as we diversify our product line and continue to leverage our capabilities to be able to deliver better services to our customers. Jindal SAW is an undisputed leader in the sector and we are confident that the company will help us take our business to the next level of excellence for our customers, suppliers and employees," said Richard D. Gilstrap, Jr., Chief Executive Officer of PSL NA.
Jindal Tubular is part of Jindal SAW, one of the largest global manufacturers of large diameter steel pipe. The parent company is O.P. Jindal Group, one of India's largest business conglomerates with interests in steel, mining, power, industrial gases and ports verticals.