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A global manufacturer of steel tubing plans to establish its first U.S. operations in Memphis, Tennessee, company officials announced.
MSS Steel Tubes, owned by Portuguese industrial company Metalogalva Group and Brazilian steelmaker Soufer Group, formed MSS Steel Tubes USA, which will invest $6 million to turn an existing building in Southeast Memphis into the parent company's first U.S. facility. The project is expected to create 129 new jobs.
Company officials said the factory would both bolster production and reduce delivery times for its U.S. customers, which primarily include solar panel manufacturers. Metalogalva Chief Financial Officer Margarida Caetano noted that Memphis is an attractive location for many manufacturers and that it is particularly well-suited to meet MSS’ needs for fast, reliable transportation options.
“We are excited to open this new plant in Memphis and contribute to the development of the region and becoming part of the local community,” Caetano said in the announcement.
The factory will reportedly offer workers an average annual wage and benefits package valued at $47,000.
Greater Memphis Chamber President and CEO Ted Townsend said local officials expect more manufacturers to set up shop in West Tennessee and metro Memphis, which continues to be “a juggernaut of steel production.”
Image Credit: Maxx-Studio / Shutterstock.com
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