Sweden-based aluminum producer Gränges has been approved to receive $975,000 in economic incentives to invest in expanding its Gränges Americas Inc. plant in Huntingdon, Tennessee. The new grant is part of a combined $2.9 million in incentives issued by Tennessee to the company to undertake a major expansion project in Huntingdon.
Tennessee’s State Funding Board approved the most recent economic development grant for Gränges Americas at a Monday, Nov. 26 meeting, according to an online report from AP.
In the United States, the Gränges Americas business unit operates three production sites, all in the southeastern U.S., with a combined production capacity of 200,000 metric tons, according to the company.
Gränges uses both primary and secondary raw materials in its production process, with the company saying it used 25 percent scrap materials at its U.S. facilities in 2017. The company produces rolled aluminum for what it terms niche markets, including heat exchangers used in the heating, ventilation and air conditioning (HVAC) market.
The Tennessee funding will help Gränges add some 165 jobs tied to a larger $110 million investment in Huntingdon, according to an economic development official quoted in the AP report.