Swedish rolled aluminium firm Gränges AB announced yesterday an investment of US$33 million at its operations in Huntington, Tennessee to keep up with the growing demand in North America for rolled aluminium.
Gränges said in a press release that this is the third major investment in new rolling capacity at its North American site, and the second new investment at Huntington.
The investment at Huntington will include approximately 25 thousand metric tons per annum of new rolled aluminium capacity thanks to a new casting line and new buildings to house it. In addition to boosting capacity at the plant, the firm says the improvements at the site will also yield a higher capacity at its downstream rolling and slitting operations.
President of Gränges Americas Patrick Lawlor said this new investment demonstrates a commitment to the firm’s desire to meet its customers’ needs.
“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.”
Gränges said the project would be finished in under two years and begin contributing to the firm’s bottom line by the end of 2023.
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).