Alcoa will invest $275 million to expand its rolling mill in Alcoa, Tennessee to meet the growing demand for light, durable and recyclable aluminum sheet for automotive production. The expansion at its facility on East Hunt Road will add 200 permanent full-time jobs, as well as 400 jobs during the construction phase.
The project will convert some of the plant’s can sheet capacity to high-strength automotive aluminum capacity, as well as install incremental automotive capacity. The Blount County expansion is scheduled to begin this month and be completed by mid-2015. When completed, the plant will be a key supplier to both the packaging and automotive markets. Much of the volume for the automotive expansion is already secured under long-term supply agreements.
“Our Tennessee expansion is a great example of how Alcoa’s edge in technology and innovation is capturing growth opportunities in our value-added mid- and downstream businesses,” Alcoa Chairman and CEO Klaus Kleinfeld said. “More and more auto producers are turning to aluminum to increase the fuel efficiency and quality of their vehicles - we anticipate a quadrupling of auto sheet volume by 2015 and a tenfold increase by 2025.
“Innovation drives economic development, and Alcoa’s adaptability and growth over the past 100 years in our state is an ideal example of what can be achieved,” Economic and Development Commissioner Bill Hagerty said. “I am pleased Alcoa recognizes Tennessee’s business-friendly climate, quality workforce and unique strengths within the global automotive industry.”
“We're excited to be part of Alcoa's continued growth in Blount County," Blount Partnership President/CEO Bryan Daniels said. "It means alot to this community that they stayed true to their roots."
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