TribLIVE

| Business


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

Alcoa to spend $275M to expand automotive sheet production

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

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.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Consol Energy cutting retiree health benefits, phasing out pension
  2. Highmark to increase premiums, limit access to health care in new plans
  3. Oil, gas industry boom leads to expansion of laws in Pennsylvania
  4. Canadian company wins bid for casino
  5. Coca-Cola shaves incentives for executives
  6. Roundup: Pittsburgh Corning plan confirmed; II-VI reorganizes segments; more
  7. Hospitals, doctors in Pa. received $32M in 5 months from drug, medical device companies
  8. New models, China sales key to GM’s future, Barra tells investors
  9. Bond experts fear inevitable sell-off
  10. Truck deals give auto sales a lift
  11. EPA says greenhouse gas releases from wells, pipelines decline
Subscribe today! Click here for our subscription offers.