{"id":8444,"date":"2019-02-14T16:12:35","date_gmt":"2019-02-14T16:12:35","guid":{"rendered":"https:\/\/staging.asminternational.org\/hts-new\/results\/-\/journal_content\/56\/10192\/36525526\/NEWS\/"},"modified":"2023-02-07T04:48:51","modified_gmt":"2023-02-07T04:48:51","slug":"arconic-to-invest-100-million-to-expand-aluminum-hot-mill-capability-in-tennessee","status":"publish","type":"post","link":"https:\/\/www.asminternational.org\/hts\/arconic-to-invest-100-million-to-expand-aluminum-hot-mill-capability-in-tennessee\/","title":{"rendered":"Arconic to invest $100 million to expand aluminum hot-mill capability in Tennessee"},"content":{"rendered":"<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\">Arconic Inc., New York, announces an investment of approximately $100 million to expand its hot-mill capability and add downstream equipment capabilities to manufacture industrial and automotive aluminum products in its Tennessee Operations facility near Knoxville. <\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\">&nbsp;<\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\">Customer commitments for the majority of the anticipated increase in capacity are already in place, and the remainder is expected to be filled by projected customer demand. The expansion, which is expected to create 70 new jobs, is already underway and is expected to be complete by the fourth quarter of 2020.<\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\">&nbsp;<\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\">\u201cThis investment will add capacity to meet growing demand for industrial products and automotive aluminum sheet,\u201d says Tim Myers, President of Arconic\u2019s Global Rolled Products business. \u201cWith this expansion, we are further diversifying the portfolio of one of our largest North American facilities.\u201d<\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\">&nbsp;<\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\">The industrial market consists of products made with common alloy aluminum sheet, which is used in applications for commercial transportation, appliances, machinery, and construction.<\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\">&nbsp;<\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\">In the automotive market, aluminum is used in applications from bumper to bumper, and demand for automotive aluminum sheet in North America is expected to double in the next ten years, according to a report published in July 2017 by independent research firm Ducker Worldwide. Arconic\u2019s expansion of the Tennessee facility\u2019s capacity continues its growth strategy which originated with its $300 million expansion (completed in 2015) to capture growing demand for automotive aluminum sheet.<\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\">&nbsp;<\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\"><a href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.arconic.com&amp;esheet=51939743&amp;newsitemid=20190213005077&amp;lan=en-US&amp;anchor=www.arconic.com&amp;index=2&amp;md5=779cafda080d44ca0420a6bf3ca0524f\">www.arconic.com<\/a><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arconic Inc., New York, announces an investment of approximately $100 million to expand its hot-mill capability and add downstream equipment capabilities to manufacture industrial and automotive aluminum products in its Tennessee Operations facility near Knoxville.<\/p>\n","protected":false},"author":63082,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[446,463,440,441,1],"tags":[],"class_list":["post-8444","post","type-post","status-publish","format-standard","hentry","category-automobiles-and-ground-transportation","category-metal-products-and-machinery","category-news","category-news-articles","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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