Atlanta’s rolled aluminium firm Novelis announced this week a new US$7-million investment in its facility at Terre Haute, Indiana that will restart several areas of the plant that have been idled as well as adding over three dozen new employees to staff the now-idled equipment.
The firm said the expansion will allow the plant to produce aluminium foil for household use, which it will do in order to fulfill several new agreements with various buyers. In order to ramp up aluminium foil production, Novelis will soon begin hiring operators, mechanics, electricians, engineers, and other operational leadership roles at the plant.
Plant manager Ryan Smith said in a press release that returning to the production of aluminium foil portends good things for the community as well.
“Novelis has been a strong community partner here in the Wabash Valley for more than 60 years and this investment solidifies not only our leadership position in the aluminum foil market, but also our commitment to bringing new, sustainable jobs to this region.”
The Terre Haute plant ceased production of aluminium foil seven years ago due to unfavorable market conditions for the product. Novelis credits the antidumping and countervailing duties implemented since then as a major reason for its return to production of aluminium foil.
A portion of the investment will be offset by a $475,000 grant from the Indiana Economic Development Corporation, which is conditional upon Novelis hiring Hoosiers to staff the plant. Additional financial incentives will be offered by the Terre Haute Economic Development Corporation.
Novelis is a subsidiary of Mumbai’s Hindalco Industries Ltd. Based in Atlanta, the firm accounts for almost half of Hindalco’s consolidated revenue. The world’s largest recycler of aluminium, Novelis conducts operations in ten different countries, employs around eleven thousand people, and reported US$11.2 billion in net sales for the most recent fiscal year.