Arconic to invest $100 million to expand hot mill capability in Tennessee Operations facility
Arconic Inc. announced it will invest nearly $100 million to expand its Tennessee Operations facility near Knoxville, Tennessee. The company will expand its hot mill capability and add downstream equipment capabilities to manufacture industrial and automotive aluminium products.
The company said customer commitments for most of the anticipated increase in capacity are already in place and the remainder is expected to be filled by projected customer demand. The project is expected to be complete by the fourth quarter of 2020.
Tim Myers, President of Arconic’s Global Rolled Products business said: “This investment will add capacity to meet growing demand for industrial products and automotive aluminium sheet. With this expansion, we are further diversifying the portfolio of one of our largest North American facilities.”
The industrial market consists of products made with common alloy aluminium sheet, which is used in applications for commercial transportation, appliances, machinery and construction, it said.
In the automotive market, Arconic said aluminium is used in applications from bumper to bumper, and demand for automotive aluminium sheet in North America is expected to double in the next 10 years, according to a report published in July 2017 by independent research firm Ducker Worldwide.
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