Alcoa announced a $83 million investment in a major modernization project at its Alcoa-Kofem Ltd., operations in Hungary. The modernization includes the expansion of flat-rolled mill products capability and related infrastructure, addition of Dura-Bright aluminum wheel production in Hungary, and launching a new manufacturing operation for airfoil castings. Alcoa expects the project to be completed by the end of 2007.
The core of the investment is the modernization of Alcoa-Kofem's Flat Rolled Products manufacturing unit, which involves expansion of its brazing sheet capability to offer a full range of gauges. Brazing sheet is used primarily in the automotive and heat exchanger markets. Kofem currently produces sheet, coil and some brazing sheet at Szekesfehervar.
In addition, Alcoa-Kofem, which has been producing forged aluminum wheels since 1997, will begin production of Dura-Bright aluminum wheels in Hungary.
Finally, the new airfoil manufacturing operation in Kofem will support Alcoa Howmet's growing jet aircraft and industrial gas turbines business in Europe.
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