Siemens and Chromalloy Gas Turbine Corp. entered a partnership to form a joint venture called Advanced Airfoil Components. The primary scope of the company will be turbine blade and vane cast components for power generation. Both companies will invest approximately $130 million in combined value to create a new production facility. The investment will create up to 350 new jobs in the U.S.
The groundbreaking of the new manufacturing facility is scheduled to take place later this year, with completion scheduled for fall 2018. Multiple southern states are under evaluation for the site. 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.
Siemens, which has invested $40 billion in the U.S. in the last 15 years, has more than 60 manufacturing sites and approximately 50,000 employees in the country.