Gränges to Increase Aluminium Casting Capacity in US
Gränges will invest USD 33 million to expand its aluminium casting operations in Huntingdon, Tennessee, to meet the growing demand from North American customers. This investment follows the previous and successful investments in new rolling capacity at the sites in Huntingdon and Newport in Arkansas in US. 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.
Gränges is a leading global supplier of rolled aluminium products for heat exchanger applications, speciality packaging and niche markets.