Alcoa to spend $275M to expand automotive sheet production
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 email@example.com.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Oilfield giant Schlumberger to purchase Cameron in $12.71B deal
- BNY Mellon works to overcome computer glitch in investment calculations
- Busy Beaver Home Improvement Centers join True Value co-op
- Marcellus shale drillers, Pa. settle 3 cases of fouling water supplies, pay $374K
- Fare wars spell relief for airline customers
- U.S. Steel freezes traditional pensions for long-serving nonunion staff
- Roundup: Kraft Heinz recalls more than 2M pounds of turkey bacon; 2 key Mylan shareholders won’t participate in Perrigo vote; more
- Tentative settlement would leave some RadioShack gift card holders with nothing
- Federal regulators sue BNY Mellon as trustee of sour mortgage securities
- Bison is the new beef
- Market strategists predict churning, but no major slump