Posted by: Scott Harrison
Gränges to invest $110 million in capacity expansion, create approximately 100 jobs
NASHVILLE – Tennessee Gov. Bill Haslam, Department of Economic and Community Development Commissioner Bob Rolfe and Gränges officials announced today that the company will invest $110 million to expand its aluminum rolling operations in Huntingdon.
Gränges, a global leader in aluminum engineering and manufacturing, will create approximately 100 new jobs as part of the expansion, solidifying the company’s commitment to its North American customers and the markets they serve.
“In Tennessee, we take pride in the fact that our hardworking residents still make things,” Haslam said. “The Gränges facility is a vital part of the Carroll County community and employs around 350 Tennesseans. I’d like to thank Gränges for committing to create about 100 new jobs in Huntingdon and bringing us closer to making Tennessee the No. 1 location in the Southeast for high quality jobs.”
“I’ve been able to tour Granges’ facility in Huntingdon and meet with the company’s leadership in Sweden,” Rolfe said. “Gränges is a strong, well-run company with a skilled and dedicated workforce in Northwest Tennessee. Huntingdon is fortunate that Gränges stepped in to keep the former Noranda facility open. It’s even better news that Gränges is making this significant investment and creating about 100 new jobs in Huntingdon.”
Gränges’ expansion meets growing demand for light gauge foil, automotive heat exchanger materials as well as heating, ventilation and air condition (HVAC) applications. The expansion includes investment in buildings, casters, cold-rolling mills, annealing furnaces and slitters. The investment further positions Huntingdon as one of the most modern and efficient aluminum rolling mills in North America.
“The expansion in Huntingdon marks the next step in our strategic growth plan for the North American market. Gränges has built a strong reputation in the aluminum rolling industry, and this expansion allows us to further support our customers’ growth,” Gränges CEO Johan Menckel said.
The project is estimated to take approximately two years to complete. When completed, the capacity in Huntingdon will increase from about 160 metric kilotons to nearly 200 metric kilotons per year. This is the second major investment in the Huntingdon facility since 2000, strengthening Gränges’ focus on foil and automotive heat exchanger products.
“The investment represents a long-term commitment to our customers, employees and shareholders as we grow in support of our strategic markets,” Gränges Americas President Patrick Lawlor said.
Local Carroll County officials and the Tennessee Valley Authority praised Gränges for its $110 million investment in the Huntingdon facility.
“Since 1967, Huntingdon has been home to an aluminum manufacturing plant, and today’s announcement of this $110 million investment by Gränges in Huntingdon is fantastic,” Huntingdon Mayor Dale Kelley said. “We are elated by the faith and confidence that Gränges has shown in the Huntingdon plant and look forward to working with Gränges over the next 50 years.”
“We are delighted with Gränges’ decision to add approximately 100 jobs and invest $110 million in Huntingdon and Carroll County,” Carroll County Mayor Kenny McBride said. “Gränges is the largest manufacturing plant in Carroll County and with the expansion it will move employment to around 500 jobs at the Huntingdon plant.”
“Today’s decision is exciting and we continue our commitment to Gränges to be the best partners we can be,” Brad Hurley, Carroll County Chamber of Commerce president, said.
“TVA and Carroll County Electric Department congratulate Gränges on its decision to expand operations in Huntingdon,” TVA Senior Vice President of Economic Development John Bradley said. “Serving the Valley by helping to facilitate job creation is fundamental to TVA’s mission of service and we are proud to partner with TNECD, Carroll County Chamber of Commerce, City of Huntingdon and Carroll County to help further that mission.”
Huntingdon and Carroll County are represented by Sen. John Stevens (R – Huntingdon), Rep. Curtis Halford (R – Dyer) and Rep. Andy Holt (R - Dresden) in the Tennessee General Assembly.
Gränges is a leading global supplier of rolled aluminum products for heat exchanger applications and other niche markets. In materials for brazed heat exchangers Gränges is the global leader with a market share of approximately 20 percent. The company develops, produces and markets advanced materials that enhance efficiency in the customer manufacturing process and the performance of the final products; brazed heat exchangers. The company’s geographical markets are Europe, Asia and the Americas. Its production facilities are located in Sweden, China and the United States, and have a combined annual capacity of 420,000 metric tons. Gränges has some 1,600 employees and net sales of more than SEK 10 billion. The share is listed on Nasdaq Stockholm. More information on Gränges is available at granges.com.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.