The Norwegian aluminum producer Hydro is investing close to $52 million to extend its Suzhou, China aluminum plant with two new aluminum extrusion presses. The aluminum company says that the extension will increase its ability to meet local demand for products and components in China.
The investment will include the purchase and installation of two presses, building and construction and auxiliary equipment. One of the new presses will be dedicated to heat transfer components and systems, while Hydro intends to use the other for industrial customers who require added-value services.
Hydro plans to begin production at the first press by the middle of 2012, with production on the other press starting by the third quarter of 2012. When both presses are installed Hydro will have a total of three presses at the Suzhou facility.
In announcing the investment, Hydro says that the market for extruded products in China is more than 8 million metric tons – nearly three times as large as the European market – and Hydro is expecting solid growth to continue over the next years.
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