Aluminum giant Alcoa will invest $110 million to repair and refurbish a 50,000-ton forging press at the company's plant in Cleveland, Ohio. The company says in a statement that the project, which will support production of the F35 Joint Strike Fighter, will involve the complete disassembly of the 92-foot press, which began production in 1955. Alcoa idled the press in 2008, when cracks were discovered in the base base castings. The Cleveland Works plant also has a 35,000-ton press that produces forgings for aerospace applications. "With a renovated press, our unique alloys, proprietary segmented die technology, and signature stress relief, Cleveland Works will be unmatched," says William F. Christopher, an Alcoa executive vice president. "We will now combine our industry-leading technology and market expertise with twice the capacity to serve markets with strong growth opportunities." The Associated Press (AP) reports that the state has awarded the Pennsylvania-headquartered company an incentive package of tax credits, loans, and grants that could total more than $20 million, contingent on job retention agreements. The project is expected to be completed by the end of 2011.