V&M TCA to expand, add jobs at Muskogee plant
BY KYLE ARNOLD World Staff Writer
Thursday, February 21, 2013
2/21/13 at 6:52 AM
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MUSKOGEE - V&M TCA is working on an $11.8 million expansion at its Muskogee factory that could see the steel pipe manufacturer add 25 jobs.
The plant is using a $2 million loan from a state economic development program to help buy a new piece of equipment called a "Bronx straightener" as part of the expansion.
V&M performs heat treatment, threading and finishing on seamless steel pipes that are mostly used in the oil and natural gas exploration industry, said plant general manager Brian Sampson.
The Bronx straightener helps smooth and perfect the heat-treated pipe after it is processed, he said.
V&M, a subsidiary of Boulognue-Billancourt, France-based Vallourec SA, employs about 195 people at the 216,000-square-foot facility on 116 acres near the Port of Muskogee.
The expansion will involve adding space to a building, and most of the $11.8 million will go to pay for the new machinery, Sampson said.
V&M started work on the expansion at the beginning of January and expects to finish the project by the end of this year, he said.
The loan that is helping to fund the expansion is part of the Oklahoma Department of Commerce's Economic Development Pooled Financing Program, which is used to help companies pay for upgrades. An arm of the program also helps local governments fund infrastructure improvements such as roads and drainage.
Companies pay back their loans through a tax withholding arrangement during subsequent years.
V&M has seven years to pay back the loan but is expected to do so in just under 5 1/2 years, according to state documents.
Since 2010, the state has loaned about $78 million under the program for 14 projects, including the Process Manufacturing Inc., L-3 and Lufthansa Technik expansions in Tulsa.
The V&M loan was arranged last fall during a trade trip to Paris by Gov. Mary Fallin, according to statement from the Commerce Department.
Original Print Headline: Muskogee pipe plant expansion to add jobs
Kyle Arnold 918-581-8380