Kaiser Aluminum Announces $19 Million Expansion at Jackson, Tenn. Facility
Kaiser Aluminum (NASDAQ:KALU) today announced that its Board of Directors has approved a $19 million expansion at its Tennalum facility in Jackson, Tenn., to increase capacity and capabilities through the addition of an extrusion press, heat treat furnace, drawbench and other ancillary equipment.
The expansion will add capacity to meet anticipated future demand for cold-finished rod, bar and related products. The Tennalum project is expected to be completed and production-ready by the end of 2009.
“Tennalum is a world-class facility that exemplifies Kaiser Aluminum’s Best In Class reputation and provides an excellent platform for expansion,” said Jack A. Hockema, president, chairman and CEO of Kaiser Aluminum. “By investing in additional growth at the facility, we’ll continue to leverage our technical expertise and a long, proven history as the preferred supplier to our service center, aerospace and other customers with a wide range of high-quality fabricated aluminum products.” Since 2005, Kaiser Aluminum has announced $263 million of total investment in its organic growth initiatives, which include a $139 million expansion of heat treat plate capacity and capabilities for aerospace applications and a $91 million program to significantly improve the capabilities and efficiencies of rod, bar and tube operations.
Kaiser Aluminum, headquartered in Foothill Ranch, Calif., is a leading producer of fabricated aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The company’s North American facilities annually produce more than 500 million pounds of value-added sheet, plate, extrusions, forgings, rod, bar and tube products, adhering to traditions of quality, innovation and service that have been key components of our culture since the company was founded in 1946. The company’s stock is included in the Russell 2000® index. For more information, please visit www.kaiseraluminum.com.
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