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05 MAY 2018 AL CIRCLE

Gränges to restart aluminium foil facility in Q1 2019

EDITED BY : HEENA IQBAL 2MINS READ

Gränges, a leading global supplier of rolled aluminium products for heat exchanger applications, will invest USD 26 million in its aluminium foil production facility in Newport, Arkansas. The investment will upgrade existing rolling mills and equipment. The production at the site will begin in the first quarter of 2019.

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Gränges CEO Johan Menckel said: "This is a good opportunity for us to upgrade and use the assets we already own, and address an attractive market niche which has been mainly served through imports. We expect the investment to make a positive contribution to earnings in 2019 and beyond.”

The aluminium foil facility produced aluminium foil for consumer applications until 2015 and has subsequently been idle with very limited business in surface treatment. The facility was part of Noranda’s rolled aluminium business, which Gränges acquired in 2016.

“This investment builds on our foil strategy as we invest to once again serve our light gauge foil customers and their growth plans. It is great news not only for our future customers, but also for the local community in the Newport area“, said Gränges Americas President, Patrick Lawlor.

The short term capacity in Newport will be 20 thousand tonnes annually which is expected to increase over the coming years, Gränges said.


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EDITED BY : HEENA IQBAL 2MINS READ

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