According to accounts from Canadian newspapers, Lakeside Steel officials are weighing a USD 77.5 million buyout offer.

The Welland based company is investing about USD 57.5 million into two facilities near Thomasville that will employ about 280 people.

When fully developed, its Thomasville operations will give it the ability to make, heat treat and finish the ends of piping sold largely to the oil and gas industry.

According to the Naiagara Falls Review, Mr Ron Bedard CEO of Lakeside would not name the prospective purchaser, but said the offer is being seriously considered.

(Sourced from www.al.com)