Swedish rolled aluminium firm Gränges AB announced this week a US$52 million investment to expand its aluminium recycling operations at its plant in Huntingdon, Tennessee. Gränges’s investment at the Tennessee plant is part of its efforts at launching near-zero carbon aluminium production by the end of 2024.
Gränges says that the new addition would be powered by renewable energy provided by the Tennessee Valley Authority (TVA) Green Invest program. The firm says the project will make a positive impact on its bottom line and is expected to provide a significant return once it comes online in 2024.
Jörgen Rosengren, President and CEO, Gränges Group said that the investment was a response to the growing demand for low-carbon aluminium.
“Sustainability and recycling are two critical parts of our business model, and strong drivers of our long-term competitiveness and value creation. We have a very high ambition level in these areas. With this investment, we will meet our customers’ expectations on decarbonizing our business and leading the way in offering solutions that are clearly differentiated from a sustainability perspective.”
The addition is part of Gränges America’s upcoming near-zero carbon aluminium products line, which it expects to bring to market in the summer of 2024. The 25 thousand metric ton addition will bring Gränges America’s total aluminium output to 260 thousand metric tons of finished product.
Patrick Lawlor, President Gränges Americas said the new construction dovetails with the firm’s focus on sustainable production.
“Gränges’ ambitious sustainability strategy combined with our customers’ platforms drive the size and speed of our investments. This investment builds on Gränges Americas’ foil strategy and underscores our strategic focus and commitment to developing sustainable products and solutions.”
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 1,800 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 a total nameplate capacity of 420 thousand metric tons per annum and an annual sales total of SEK13 billion (US$1.35 billion).