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, Arkansas.
“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 utilisation 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.