Mining Weekly reported that Alcoa (NYSE:AA) has completed a second automotive expansion to meet the growing demand for lighter materials in the automotive sector.

Mining Weekly reported that Alcoa (NYSE:AA) has completed a second automotive expansion to meet the growing demand for lighter materials in the automotive sector.
As quoted in the market news:

Backed by long-term customer contracts, Alcoa invested $300-million in the latest Tennessee capacity expansion aimed at capturing growing demand for automotive aluminium sheet, as the use of aluminium body sheet in North American vehicles was expected to increase eleven-fold by 2025 on 2012 levels. The plant would provide aluminium sheet to automakers that included Ford Motor Company, Fiat Chrysler Automobiles and General Motors.
“Automakers are demanding lighter, stronger materials that improve the performance of their vehicles and Alcoa is at the forefront of capturing that demand. Through our capacity expansions in Tennessee and Davenport, and breakthrough technologies like the Micromill, we have cemented Alcoa’s position as the premier partner to the automotive industry as it turns to aluminium,” Alcoa chairperson and CEO Klaus Kleinfeld points out.
The Tennessee project started customer shipments earlier this month, augmenting Alcoa’s Davenport, Iowa-based plant that had reported record volumes of automotive sheet shipments in the second quarter, up by about 200% from the second quarter of 2014.

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nyse:aa Aluminum Investing