By The Associated Press
IUKA — Dennen Steel Corp., a contract stamping manufacturer of steel products, has broken ground for construction of a new 50,000-square-foot manufacturing facility at Yellow Creek Port in Iuka.
The ground-breaking was held Wednesday at the construction site.
Company chairman/CEO Andrew Dennen says in a statement that the $7.4 million project will create 50 new jobs in northeast Mississippi.
He says Dennen Steel, headquartered in Grand Rapids, Mich., will purchase large master coils from steel mill producers and process steel slit coil into precision stampings, fabricated metal parts and assemblies from the Tishomingo County location.
The Mississippi Development Authority provided assistance to the county for infrastructure improvements at the site of the company’s new facility. The Appalachian Regional Commission and Tennessee Valley Authority also provided assistance to help facilitate the project.