Noranda Aluminum Holding Corporation Invests $45 Million In New Madrid, Missouri, Aluminum Smelter Plant
07/29/2013
"The aluminum smelter here in New Madrid accounts for approximately 13 percent of total U.S. primary aluminum production," says Layle “Kip” Smith, Noranda President and Chief Executive Officer. "Missouri's skilled workforce and competitive business climate have allowed us to compete in the global market and we look forward to our continued growth in aluminum production."
This is the second major investment announcement by Noranda in the New Madrid facility in the past three years. In 2010, the company announced plans to invest $38 million to increase the aluminum smelter's annual metal-production capability by approximately 35 million pounds. The latest investment includes funding for an 80,000 square-foot expansion and the purchase of new state-of-the-art equipment.
"Noranda's continued commitment to expanding its Missouri presence is good news for our economy," Gov. Jay Nixon said. "I'm pleased my administration could support Noranda and help make this project possible to create jobs and stimulate economic growth in southeast Missouri."
The New Madrid smelter has become one of the largest employers in southeast Missouri and currently employs more than 1,000 workers. The facility expansion will allow Noranda to meet greater product demand by increasing the facility's capacity to produce redraw rod, which is used in many electrical infrastructure applications, the Governor’s Office said.
The state of Missouri helped make Noranda's expansion in New Madrid possible through a strategic package of economic incentives, which the company can redeem if it meets the strict job creation and investment criteria.
Project Announcements
PEAK Precision Manufacturing Plans Bowling Green, Kentucky, Operations
07/26/2024
Italy-Based Sipcam Agro USA Upgrades Wayne County, Mississippi, Operations
07/26/2024
Cleveland-Cliffs Plans Weirton, West Virginia, Operations
07/26/2024
IDEXX Laboratories Plans Wilson, North Carolina, Production Operations
07/26/2024
Germany-Based Ritz Instrument Transformers Plans Waynesboro, Georgia, Operations
07/26/2024
AirJoule Plans Newark-Wilmington, Delaware, Operations
07/26/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The CHIPS and Science Act will bring jobs back to the United States
Q2 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
The Bring Your Own Energy (BYOE) Party Is Starting
Q2 2024
-
Midwest becomes hotspot for semiconductor manufacturing and supply industries
Q2 2024