TribLIVE

| Business

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Alcoa to spend $275M to expand automotive sheet production

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

AA $8.46 +$0.03

at close on THURSDAY

Daily Photo Galleries

Business Photo Galleries

By John D. Oravecz
Thursday, May 2, 2013, 10:12 a.m.
 

Alcoa Inc. said Thursday it will spend $275 million over three years to expand aluminum sheet production for the auto industry, adding 200 jobs in Tennessee.

The project at its Alcoa, Tenn., plant is the second announced by the company to support auto manufacturers' plans to use more aluminum sheet to increase fuel efficiency of cars and light trucks. Alcoa previously announced a $300 million expansion at a plant in Davenport, Iowa, which is set to be completed by the end of this year.

“More and more auto producers are turning to aluminum to increase the fuel efficiency and quality of their vehicles — we anticipate a quadrupling of auto sheet volume by 2015 and a tenfold increase by 2025,” CEO Klaus Kleinfeld said.

The Tennessee expansion will add 200 full-time jobs and more than 400 construction jobs. It is scheduled to begin this month and be completed by mid-2015.

Alcoa is scheduled to hold its annual meeting of shareholders on Friday in Pittsburgh.

John D. Oravecz is a staff writer for Trib Total Media. He can be reached at 412-320-7882 or joravecz@tribweb.com.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Oilfield giant Schlumberger to purchase Cameron in $12.71B deal
  2. BNY Mellon works to overcome computer glitch in investment calculations
  3. Busy Beaver Home Improvement Centers join True Value co-op
  4. Marcellus shale drillers, Pa. settle 3 cases of fouling water supplies, pay $374K
  5. Fare wars spell relief for airline customers
  6. U.S. Steel freezes traditional pensions for long-serving nonunion staff
  7. Roundup: Kraft Heinz recalls more than 2M pounds of turkey bacon; 2 key Mylan shareholders won’t participate in Perrigo vote; more
  8. Tentative settlement would leave some RadioShack gift card holders with nothing
  9. Federal regulators sue BNY Mellon as trustee of sour mortgage securities
  10. Bison is the new beef
  11. Market strategists predict churning, but no major slump