Siemens AG, Germany, and Chromalloy Gas Turbine Corp., Palm Beach Gardens, Fla., have entered a partnership to form a new joint venture called Advanced Airfoil Components, which will cast turbine blade and vane components for power generation. Both partners are investing approximately $130 million in combined value to create a new production facility in the United States.
The location is being finalized, and multiple southern states are under evaluation. Groundbreaking is scheduled to take place later this year, and is scheduled for completion in the fall of 2018. The stand-alone manufacturing plant will supply only to Siemens. Start-up part qualifications and production shipments are in process at Chromalloy’s existing facility.
“The decision to form a joint venture and a new production facility continues our strong commitment to the United States as a business location,” says Willi Meixner, CEO of the Siemens Power and Gas Division. “Siemens and Chromalloy already have a long-lasting supplier relationship, and our new joint venture will exclusively supply Siemens with casting components for our gas turbines. We will continue our established key casting supplier partnerships and all the existing long-term agreements will be executed.”
“Continuing to build our partnership is very important and shows the value we place in each other’s capabilities and expertise,” says Chromalloy president Carlo Luzzatto. “Chromalloy continues to be a leader in providing innovative, high-technology manufacturing capabilities for gas turbine engines. And we are going to bring those capabilities to help create and grow this new business with Siemens.”
Siemens has more than 60 manufacturing sites and approximately 50,000 employees in the United States, where Siemens has invested $40 billion over the past 15 years.
www.siemens.com/press/PR2017050293PGEN
