Gränges invests $33 million to increase aluminum casting capacity in Tennessee
Gränges, a Swedish aluminum supplier of rolled aluminum products for heat exchanger applications, specialty packaging and niche markets, says it will invest $33 million to expand its aluminum continuous casting operations in Huntingdon, Tennessee, to meet growing 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 25,000 tons per year and will enable higher capacity utilization in the downstream rolling and slitting operations.
“This investment is the third major U.S. investment we have made since 2017,” said says Patrick Lawlor, president of Gränges Americas. “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.”
The project is estimated to take less than two years to complete and is expected to contribute positively to Gränges’ operating profit in 2023. Gränges will finance the expansion investment in Huntingdon with existing cash and internally generated cash flows.