Alcoa will make a $275 million investment in Tennessee to capitalize on value-added growth opportunities.
Alcoa recently announced a second major North American expansion to meet the growing demand for light, durable and recyclable aluminum sheet for automotive production.
Alcoa will invest $275 million over the next three years to expand and convert capacity at its rolling mill in Alcoa, Tenn., to support automotive producers’ plans to use more aluminum sheet to increase fuel efficiency, safety, durability and performance of cars and light trucks. Alcoa previously announced a $300 million expansion of its Davenport, Iowa plant which is set to be completed by the end of this year.
“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,” said Alcoa Chairman and CEO, Klaus Kleinfeld. “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.
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Source: Alcoa | May 2, 2013