Industrial equipment maker Burned Steel in Edmonton says it will spend $500 million to refurbish its factories.
The company says the refurbishment will be part of its global expansion plan and will include a $150-million, 5,000-foot expansion.
The expansion will also include more than 1,000 new jobs and will allow the company to reach more customers around the world.
The announcement comes after a fire last fall damaged at least three factories and destroyed up to 2,000 tonnes of steel.
The fire also damaged and damaged another Burned production facility.
The firm says it is looking at whether to restructure its operations and expand internationally.