Rolled-aluminium manufacturer Gränges AB announced yesterday an investment of US$110 million in a two-year expansion project at its rolling mill in Huntingdon, Tennessee.
According to the firm, the move is an effort at meeting the growing demand for rolled aluminium products including light-gauge foil, automotive heat exchangers, and HVAC components. In addition to serving customer needs, the expansion will improve the local economy by adding another 85 positions at the plant.
Included in the expansion will be casters, cold-rolling mills, annealing furnaces, and slitters. Buildings required for housing such equipment are part of the plan as well. All told, the contemplated expansion will raise the plant’s capacity from 160 thousand metric tons per annum to almost 200 thousand metric tons per annum.
Gränges CEO Johan Menckel said that the expansion is a logical continuation of the firm’s strategy for the continent.
“The expansion in Huntingdon marks the next step in our strategic growth plan for the North American market. Gränges has built a strong reputation in the aluminium rolling industry, and this expansion allows us to further support our customers’ growth.”
Gränges Americas President Patrick Lawlor greeted the news as a continuation of the partnerships the company has forged with all major stakeholders in the firm’s North American operations.
“The investment represents a long-term commitment to our customers, employees and shareholders as we grow in support of our strategic markets.”
Begun in 1873 in Stockholm, Sweden as Trafik AB Grängesberg-Oxelösund, Gränges AB was resurrected in 2013 as a private company specializing in rolled aluminium heat exchangers. It employs almost 1,000 employees at the present time at two plants – one in Finspång, Sweden, that opened in its present configuration in 1972, and a second in Shanghai, China, opened in 1996. The firm boasts an annual sales total of SEK10 billion (US$1.09 billion).