Le Lézard
Classified in: Mining industry, Transportation, Business
Subject: CXP

Hydro Invests in North America to Support Automotive, Transportation and Construction Growth


ROSEMONT, Ill., Oct. 11, 2018 /PRNewswire/ -- Today, Hydro announced it plans to invest over $70 million in two new aluminum extrusion presses to support the growing automotive, architectural and transportation markets in North America. 

(PRNewsfoto/Norsk Hydro)

The company plans to install a 4,500-ton 10" aluminum press line at its Cressona, Pennsylvania location to serve the traditional automotive and distribution segments while simultaneously installing a 7,000-ton dual container 12"/14" press line in the West region to serve the electric vehicle, transportation and commercial building and construction segments.

"We are very excited about Hydro's continued investments in North America," said Jack Pell, Vice President of Automotive Business Development for Hydro Extrusion North America. "This new equipment merges state-of-the-art billet heating and quench capabilities with larger billet diameters and enables us to produce larger extruded aluminum shapes with thinner walls from stronger alloys ? the 'holy grail' for our automotive customers."

Hydro expects these presses to be operational by 2020. The equipment will utilize cutting-edge extrusion technology to achieve improved productivity and enable Hydro to serve customers in the expanding North American market. In addition, Hydro plans to invest $100 million in North America over the next two years on new fabrication equipment as well as upgrades to existing cast houses, extrusion presses, anodizing and paint lines.

Mike Stier, Hydro's Vice President of Strategy & Innovation in North America, notes that "These investments are a clear sign to the market that we are committed to maintaining and growing our position as the industry leader with unmatched value-added services and press capabilities. We are positioning ourselves to serve our customers in the best way possible now and in the future."

About Hydro:

Hydro is a fully integrated aluminum company with 35,000 employees in 40 countries on all continents, combining local expertise, worldwide reach and unmatched capabilities in R&D. In North America, Hydro is a supplier of rolled aluminum, extrusions and other metal products with over 6,500 employees. Hydro's domestic operations include two dedicated aluminum re-melting facilities in Kentucky and Texas, more than 20 extruded products manufacturing locations and nine casting facilities. Hydro is committed to strengthening the viability of its customers and communities, shaping a sustainable future through innovative aluminum solutions.

CONTACT:
Joseph Tateoka
Joseph.tateoka@edelman.com
312-729-1710

 

SOURCE Hydro


These press releases may also interest you

22 mar 2019
Euromax Resources Ltd., : Euromax Resources Ltd. (Euromax or the Company) announces that the terms of the private placement financing to one of its current major shareholders, Galena Resource Equities Limited (Galena), an entity controlled and...

22 mar 2019
Wealth Minerals Ltd. (the "Company" or "Wealth") - , arranged a non-brokered private placement (the "Placement") of up to 10,000,000 units (the "Units") at a price of $0.40 per Unit (the "Offering") for gross proceeds of up to $4,000,000. Each Unit...

22 mar 2019
Victoria Gold Corp. ("Victoria" or the "Company") announces today that, in an effort to facilitate closing and settlement mechanics for its previously announced bought deal financing, the syndicate of underwriters led by BMO Capital Markets have...

22 mar 2019
Tanzanian Royalty Exploration Corporation (the "Company") announces the voting results from its 2019 annual and special meeting held on March 21, 2019.  A total of 30,619,682 common shares were voted representing 22.94% of the issued and...

22 mar 2019
Karnalyte Resources Inc. ("Karnalyte" or the "Company") today announced its financial results and corporate highlights for the financial year ended December 31, 2018. Highlights Wynyard Potash Project ("Wynyard Potash") Potash price environment...

22 mar 2019
Barrick Gold Corporation ("Barrick") today announced that its 2018 Annual Information Form, Form 40-F, and Annual Report are now available on SEDAR (www.sedar.com) and EDGAR (www.sec.gov), respectively. In addition, a new National Instrument 43-101...



News published on 11 october 2018 at 09:00 and distributed by: