US – The facility in Davenport is dedicated to supplying aluminium sheet products to the automotive industry, from which Alcoa is seeing increasing demand.
Klaus Kleinfeld, chairman and CEO of Alcoa, commented: “2014 marks the beginning of dramatic growth for aluminium in the auto sector”, adding that vehicle OEMs are “increasingly choosing aluminium as a cost-effective way to improve the performance, safety, durability and fuel efficiency of their vehicles”.
The project in Iowa is the first of three expansions planned by Alcoa. Extra capacity is due to be added at its facility in Tennessee by mid-2015, while the company’s joint venture rolling mill in Saudi Arabia will be finished by the end of 2014. The total investment amounts to $670m.