Portuguese company Metalogalva Group invests USD 6 M in USA
- Valerie Charoux
- Feb 9, 2023
- 1 min read
Portuguese company Metalogalva Group is investing USD 6 M in Memphis, in the US state of Tennessee according to La Prensa Latina.
An announcement on February 8th from the Tennessee Department of Economic and Community Development stated that Metalogalva Group is opening its first U.S. facility in Southeast Memphis, a $6 million plant that will employ 129 people, and that the average salary will be $47,000.
“Our strong business climate and unmatched workforce make Tennessee the ideal place for global manufacturers like MSS Steel Tubes to thrive,” Governor Bill Lee said in a statement, adding “I thank this company for its commitment to job creation across Memphis and look forward to this company’s continued success.”
MSS Steel Tubes USA is a subsidiary of MSS Steel Tubes SA, which is owned by Portugal-based Metalogalva Group in partnership with Brazil-based Soufer Group. Metalogalva has a turnover of EUR 147 M.
According to the La Prensa Latina report, the facility will be used as a distribution and manufacturing hub for MSS Steel Tubes that produces parts for solar panel manufacturers. The Greater Memphis Chamber of Commerce plans to add 50,000 additional jobs and 700 advanced industry companies to the Memphis market by 2030.
