Arconic Investing $100 Million, Creating Jobs in Tennessee
Arconic Inc. will invest 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, Tenn. The project, which is expected to create 70 new jobs, is already under way and should be complete by the fourth quarter of 2020.
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 industrial market consists of products made with common alloy aluminum sheet, which is used in applications for commercial transportation, appliances, machinery and construction.
Arconic’s expansion of capacity at the Tennessee facility continues its growth strategy, which originated with its $300 million expansion (completed in 2015) to capture growing demand for automotive aluminum sheet.