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Aluminum August 04, 2022 01:35:16 PM

Hydro Invests in Major Upgrades to Henderson, Kentucky Facility

Paul Ploumis
ScrapMonster Author
The Kentucky Economic Development Finance Authority (KEDFA) has given preliminary approval for up to $1 million in tax incentives through the Kentucky Reinvestment Act (KRA).

Hydro Invests in Major Upgrades to Henderson, Kentucky Facility

SEATTLE (Scrap Monster): Hydro Aluminum Metals USA announced investment aimed at upgrading its Henderson, Kentucky plant.

According to company press release, the $15 million investment comprises installation of a new homogenization furnace to help the facility better serve the rising demand from the automotive market. It will also install a new baghouse, a state-of-the-art dust and gas collector to reduce air emissions. The work is expected to begin this month and is expected to be completed by September 2024.

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The Kentucky Economic Development Finance Authority (KEDFA) has given preliminary approval for up to $1 million in tax incentives through the Kentucky Reinvestment Act (KRA). The funding is subject to investment of at least $8.8 million and retention of up to 56 full-time jobs at an average hourly wage of $49.80.

Commenting on the investment, Trond Gjellesvik, vice president of Hydro said that the proposed investment will boost the use of post-consumer scrap, thus promoting a circular economy and accelerating the green transformation of the aluminum and automotive industries. It will allow the company to recycle a broader range of materials, Gjellesvik added.

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