IPSCO To Boost Capacity; Sets Sales, Profit Records
IPSCO currently has firm commitments for over 300,000 tons of large diameter line pipe, which will require its mills to operate at capacity to April 2008. Beyond that period the company has firm options on over 500,000 tons of large diameter line pipe, which would commit part of presently available capacity into 2010. The company believes that there are opportunities to commit additional capacity if it is available from a proven source within the current peak cycle.
IPSCO further announced record net income in 2006 of $643.1 million, compared to $585.8 million in 2005. IPSCO’s sales increased 24% in 2006 to $3.78 billion compared to $3.03 billion in 2005. Shipment volumes increased 18% to nearly 4.1 million tons while the average selling price per ton increased 6%.