Ameron International Corp. on Friday said that it plans to build a steel-pole manufacturing plant in Tulsa, Okla.

The Pasadena pipe products maker said the 75,000-square-foot facility will include a proprietary manufacturing process, and when fully operational within two years would have an annual sales capacity of up to $75 million. The company expects to spend about $35 million on the plant, which will build decorative concrete lighting poles, sign poles and other transportation-related products.

“This investment represents a significant strategic growth opportunity in a market with which we have experience,” Chief Executive James Marlen said in a statement. “With the new plant, we will have a cost-efficient, state-of-the-art manufacturing process and the capacity to grow the business.”

Shares on Friday were down $1.85, or 2.5 percent, to $73.43 on the New York Stock Exchange.