Business WireArconic Inc has decided to invest in the modernization of its Tennessee plant. The management of the company is ready to spend about 100 million dollars to expand the equipment of the plant for the production of aluminum for the automotive and other industries.
The increase in the capacity of the enterprise is already justified by the existing orders of the main customers and is calculated for the projected growth in demand for aluminum.
The new project is expected to create 70 jobs. The company has begun to implement its plan and plans to complete the renovation by the fourth quarter of 2020.
Aluminum production is highly sought after in the automotive market, and demand in North America could double in the next 10 years, according to a forecast published in 2017 by independent research firm Ducker Worldwide.
Tennessee-based Arconic is pursuing a strategic line that began back in 2015 with a $ 300 million investment in aluminum expansion. It has set itself the goal of meeting the growing need for aluminum in the automotive industry.
