Aluminum Casting Gränges further Expands Aluminum Casting Capacity in the USA
Demand for cast aluminum parts is also growing in North America. As a result, Gränges will invest more than $30 million in the expansion of its aluminum foundry in Huntingdon, Tennessee. This investment follows previous and successful investments in new rolling capacity at the Huntingdon and Newport, Arkansas sites.
“This investment is the third major US investment we make since 2017. It underscores our commitment to growing our business with our customers and the markets we serve and strengthens our platform for continued profitable growth. It also supports our high sustainability ambitions by improving both energy and carbon intensity. We take pride in being a trusted partner to our customers for continued growth and innovation”, says Patrick Lawlor, President Gränges Americas.
The expansion includes investment in buildings and a new casting line. When completed, the casting capacity in Huntingdon will increase by about 25 ktonnes per year and will enable higher capacity utilization in the downstream rolling and slitting operations.
The project is estimated to take less than two years to complete and is expected to contribute positively to Gränges’ operating profit in 2023. Gränges will finance the expansion investment in Huntingdon with existing cash and internally generated cash flows.