Bull Moose announces closure of Ontario tube plant

“This was an extraordinarily difficult decision that we did not make lightly,” said CEO John Krupinski.

“Intensifying competitive pressures have led to market oversaturation, uncertainty, and deteriorating business prospects for the Burlington operation for the foreseeable future,” the company explained.

However, it also noted that the closure does not reflect its outlook for the larger pipe and tube market.

In fact, the company has been ramping up its investments in the US market in recent years. Last fall, Bull Moose’s parent company, Caparo Group, announced a $25-million investment to build a new plant in Gerald, Mo.

Bull Moose, or BMT, also recently made the most significant capital investment in its history by adding a 350,000-short-ton-per-year welded tube mill on Steel Dynamics Inc.’s (SDI’s) sheet mill campus in Sinton, Texas.

“And we will continue to strategically invest in our US facilities to best service the market,” noted the Hon. Ambar Paul, chairman of Caparo Bull Moose and Bull Moose Tube.

“These investments reflect our ongoing commitment to innovation and adaptation in a changing industry landscape, even as we navigate this challenging transition for our Canadian operations,” Paul added.