The Canadian Press reported that Lakeside Steel Inc will boost production at its plant in southern Ontario to meet significantly stronger demand from its energy industry customers a sign that brighter times may be returning to a sector battered by recession and industrial restructuring.

The company said that it will add more production shifts at its new Welland plant amid an influx of orders. Lakeside has secured sufficient orders to operate at full capacity in the April to June 2010 period and said it continues to receive orders beyond June 30th 2010.

Mr Ken Hunter CFO of Lakeside Steel Inc said that the company won't be hiring any new employees, but will be moving people around internally. He added that "We have a cautious optimism on the increase in load and we're trying to manage within the employment we have."

Lakeside said that higher prices for oil and natural gas have helped boost demand for its steel, as have recent duties imposed on Chinese steel imports in Canada and the US. The company makes tubes and seamless pipe used in oil and gas drilling, well completions and other applications in the energy and industrial sectors.

(Sourced from www.thecanadianpress.com)