Arconic Declares $100M Investment to Upgrade Alcoa Hot Mill Facility

SEATTLE (Scrap Monster): New York-headquartered Arconic Inc. announced its decision to invest more than $100 to expand the operations at its Blount County, Tennessee facility. The project is already underway and is expected to be completed by fourth quarter of 2020. The expansion project is expected to create 70 new jobs in the region, thus making the total employment at the facility to 985.

The investment is aimed at better tapping the demand for aluminum in the automotive market, which is projected to double over the next decade. According to company press release, the project will bring in significant expansion to its hot mill capability. It will also involve general site improvements, addition of downstream equipment capabilities and expansion of finishing capabilities.

Tim Myers, president of Arconic’s Global Rolled Products business stated that the investment will further diversify the facility’s portfolio of products. Further, it will add capacity to meet the growing demand for industrial products and automotive sheets. Meantime, Tracie Gliozzi, Director of Communications- Global Rolled Products and Transportation and Construction Solutions group noted that the expansion is nothing but a continuation of its earlier $300 million expansion plan which had come to an end in 2015.

As per reports, Arconic has already received 6-year partial tax abatement worth $1.3 million from the Industrial Development Board.