Arconic is continuing its expansion project at its Tennessee Operations facility near Knoxville. The company is investing more than $100 million to support its previously announced industrial expansion — as well as its recently announced reentry into the can sheet market.
“This expansion enables Arconic to help meet the strong customer demand for industrial products and can sheet,” said Nandu Srinivasan, president of Arconic Global Rolled Products, North America. “As consumers are moving away from plastics for more sustainable products, infinitely recyclable aluminum is the perfect solution.”
The majority of the capital investment will be focused on completing the installation of a new hot mill and downstream equipment. These added capabilities will support growing demand for industrial and automotive aluminum sheet in the region.
The Tennessee Operations’ reentry into the can sheet and packaging market will not require much in the way of new equipment. However, the company has received a number of new contracts to supply packaging manufacturers, including over $1.5 billion in new orders to be delivered between 2022 and 2024.
In addition, the project is expected to bring 200 new jobs to the facility, where the company has operated for more than 100 years (previously under Alcoa).
“Arconic’s investment of more than $100 million is excellent news for Alcoa and Blount County,” said Bob Rolfe, commissioner for the Tennessee Department of Economic & Community Development (TNECD). Our job at TNECD is to support high-quality job growth across the state, and we thank Arconic for its ongoing commitment and investment in East Tennessee.”
Arconic is a leading provider of aluminum sheet, plate and extruded products for the ground transportation, aerospace, packaging, and industrial markets. The company is also a key supplier to the building and construction market, providing architects and contractors with innovative products and systems to create high-performing buildings.