|Updated: 2/23/2012 10:18 am
||Published: 2/23/2012 9:14 am
LITTLE ROCK, Ark. (AP) — Pipe manufacturer Welspun Corp. Ltd. says it will expand its Little Rock facility, adding 200 jobs and investing an additional $100 million.
Welspun made the announcement Thursday morning, joined by city leaders and Gov. Mike Beebe.
Welspun chairman B.K. Goenka says the company is "delighted" at the performance of the Little Rock plant and he thanked city and state leaders for their support.
Pipe produced by Welspun is primarily used in the oil and gas industry. The facility is located on 740 acres near the Port of Little Rock and has an annual production capacity of more than 350,000 tons of pipe.
The expansion will allow Welspun to make a small diameter pipe which is more widely used. By manufacturing different types of pipes, Welspun hopes to provide the type of pipes that companies will need. For example, the Keystone pipeline used large pipes. More companies use the smaller pipes, which is why Welspun is moving toward the smaller pipes.
Beebe says Welspun invested in Little Rock when the national economy was suffering. The governor thanked Welspun for its faith and confidence in Arkansas and its workers.