Granges to infuse $33 million to boost aluminium casting capacity in US
2021-03-29 10:46:03 [Print]
Granges will infuse $33 million to expand its aluminium casting operations in Huntingdon, Tennessee, to encounter the rise in demand from North American customers.
The expansion includes investment in buildings and a new casting line. When completed, the casting capacity in Huntingdon will increase by about 25 kilo-tonnes per year and will enable higher capacity utilization in the downstream rolling and slitting operations.
The project is evaluated to take less than two years to complete and is expected to contribute positively to Granges' operating profit in 2023. Granges will finance the expansion investment in Huntingdon with existing cash and internally generated cash flows.
The expansion includes investment in buildings and a new casting line. When completed, the casting capacity in Huntingdon will increase by about 25 kilo-tonnes per year and will enable higher capacity utilization in the downstream rolling and slitting operations.
The project is evaluated to take less than two years to complete and is expected to contribute positively to Granges' operating profit in 2023. Granges will finance the expansion investment in Huntingdon with existing cash and internally generated cash flows.
