ThyssenKrupp Waupaca Inc. has announced plans to reopen its Etowah, Tenn., foundry by the first quarter of 2012. The foundry was idled in January 2010 due to the downturn in the North American automotive and truck markets, according to the company.
In announcing the reopening of the foundry, Tennessee Governor Bill Haslam said, “This is great news for McMinn County (Tennessee). I am confident the skilled workforce in Etowah will provide a fine foundation on which the company can return to business and help grow the area economy.”
“Governor Haslam’s Jobs4TN plan is very focused on helping existing Tennessee businesses expand and thrive in our state,” added Tennessee Economic and Community Development Commissioner Bill Hagerty. “The reopening of ThyssenKrupp Waupaca’s Etowah facility is a positive step in our strategy for economic success in Tennessee and is indicative of the automotive industry’s rebound in recent months.”
The decision to reopen the facility follows a pickup in demand for its finished product and reflects the company’s commitment to meeting the long-term supply requirements of its customers and confidence in future growth prospects.
“The reopening of our Etowah foundry is good news for our customers and for the state of Tennessee, but also for the men and women we will be able to put back to work,” says Gary Gigante, president and CEO of ThyssenKrupp Waupaca. “Our facility is one of the most technologically advanced in the entire iron castings industry, and we are proud to once again be open for business in McMinn County.”
ThyssenKrupp Waupaca will start installing new melt, core and mill room equipment in the foundry for ductile iron production beginning in the third quarter of 2011. The foundry will add around 20,000 square-feet of manufacturing space to the facility to accommodate the new equipment.
Start-up of the facility will occur in two phases. Production of gray iron will begin in early 2012, reaching full capacity by mid-to-late-third quarter of 2012. Starting the second quarter of 2012, ductile iron will be produced. Full capacity is expected to be achieved by the first quarter of 2013.
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