Tri-Arrows Commits US$125 MM in Building Cold-Rolling Mill at Logan Aluminum
26 May 2017 by Staff
Rolled aluminium firm Tri-Arrows Aluminum, Inc. will soon be starting on the construction of a US$125-million cold rolling mill in western Kentucky.
According to a press release disseminated by Kentucky Governor Matt Bevin (R), the new mill will be constructed on the campus of Logan Aluminum Inc., a joint venture between Tri-Arrows and Novelis, in Logan County. It will double the plant’s total number of cold-rolling mills as well as creating around sixty jobs at the plant, likely boosting the firm’s already-substantial 45% share in North America’s beverage-can production.
“This investment in Logan Aluminum will have a strong positive impact on Western Kentucky’s economy for many years to come,” Bevin opined. “Kentucky’s manufacturing industry is expanding, and Tri-Arrows Aluminum, Logan Aluminum and their partner organizations are on the forefront of industry change and growing customer demand. This new cold rolling mill will help Logan Aluminum and its partners supply manufacturers – both within Kentucky and beyond – with the high-quality materials they need. We are confident that this investment will be transformative for the region, and thank the companies involved for their decision to invest in the Bluegrass State.”
Construction of the mill is slated to be complete in the first part of 2019, yielding its first rolled aluminium that spring. The mill is the second part of a multi-phase expansion of the plant, the first being a US$250-million investment in a recycling and ingot-production facility, first announced in 2015.
“We are beyond excited for this expansion at Logan Aluminum near Russellville,” said state Sen. Whitney Westerfield. “A $125 million investment in our community and an estimated 60 new jobs will be a huge boost for the local economy. We appreciate Tri-Arrows and Novelis Inc. for their commitment to Logan County, and we also appreciate Governor Bevin, the Cabinet for Economic Development, and everyone else who played a role in bringing this project to life.”
Tri-Arrows has been extended economic assistance to encourage the investment by the state, including US$8 million in various tax incentives and state-sponsored job recruitment and training services.
“The new jobs and investment coming to Logan County is fantastic news for our local economy,” state Rep. Jason Petrie said. “Thanks to Tri-Arrows’ massive investment in our community, the livelihoods of 60 families will improve, and we will be well-equipped to continue building a strong manufacturing economy.”
“Logan County is truly blessed to receive Tri-Arrows’ continuing investment in Logan Aluminum,” Logan County Judge-Executive Logan Chick said. “We are very pleased that this world-class, global company is placing their new investment in our community. All Logan County citizens thank them for these new jobs. We are honored to host this progressive company.”
Lewisville-based Tri-Arrows is a subsidiary of Tri-Arrows Aluminum Holdings Inc. (TAAH), in which Japan’s UACJ Corp. holds a 75% interest, Sumitomo Corp a 20% stake, Itochu Metals Corp. claiming three percent, and the remaining two percent ownership is vested in Itochu Corp.