The company says the review was in response to a 33 per cent drop in the price of aluminum since 2011.
Despite the loss, the company’s CEO said a focus on high-strength steels in car manufacturing would help stabilize the industry.
The expansion will add 200 full-time jobs upon completion.
The company has already idled 568,000 tonnes or production capacity, or 13 per cent of its global network.
The company is planning to target industries of B.C., Alberta, and Saskatchewan.
This Windsor-based shop made tough business decisions, but ended up thriving as a result.
The company also predicts results will get worse in the second quarter in Europe – the company’s biggest segment.
The tower’s spire is a joint venture between the Montreal-based ADF Group Inc. engineering firm and New York-based DCM Erectors Inc., a steel contractor.
The company will operate one plant, but will move the equipment from the Florida location to its other joist fabrication plants.
The lockout is a direct contravention to a 2011 agreement that said the company would keep producing steel in Canada for at least another four years.
Sales increased as a result of the joist and steel deck business, and with contributions from its bridge and light structural steel activities.
Countervailing duties could be imposed, but a final ruling isn’t expected until later this year.
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