Kaiser Aluminum Announces $19 Million Expansion at Jackson, Tenn. Facility
June 23 2008 - 8:00AM
Business Wire
Kaiser Aluminum (NASDAQ:KALU) today announced that its Board of
Directors has approved a $19 million expansion at its Tennalum
facility in Jackson, Tenn., to increase capacity and capabilities
through the addition of an extrusion press, heat treat furnace,
drawbench and other ancillary equipment. The expansion will add
capacity to meet anticipated future demand for cold-finished rod,
bar and related products. The Tennalum project is expected to be
completed and production-ready by the end of 2009. �Tennalum is a
world-class facility that exemplifies Kaiser Aluminum�s Best In
Class reputation and provides an excellent platform for expansion,�
said Jack A. Hockema, president, chairman and CEO of Kaiser
Aluminum. �By investing in additional growth at the facility, we�ll
continue to leverage our technical expertise and a long, proven
history as the preferred supplier to our service center, aerospace
and other customers with a wide range of high-quality fabricated
aluminum products.� Since 2005, Kaiser Aluminum has announced $263
million of total investment in its organic growth initiatives,
which include a $139 million expansion of heat treat plate capacity
and capabilities for aerospace applications and a $91 million
program to significantly improve the capabilities and efficiencies
of rod, bar and tube operations. Kaiser Aluminum, headquartered in
Foothill Ranch, Calif., is a leading producer of fabricated
aluminum products, serving customers worldwide with
highly-engineered solutions for aerospace and high-strength,
general engineering, and custom automotive and industrial
applications. The company�s North American facilities annually
produce more than 500 million pounds of value-added sheet, plate,
extrusions, forgings, rod, bar and tube products, adhering to
traditions of quality, innovation and service that have been key
components of our culture since the company was founded in 1946.
The company�s stock is included in the Russell 2000� index. For
more information, please visit www.kaiseraluminum.com. F-1096
Certain statements in this release relate to future events and
expectations and, as a result, constitute forward-looking
statements involving known and unknown risks and uncertainties that
may cause actual results, performance or achievements of the
company to be different from those expressed or implied in the
forward-looking statements. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements include: (a) the effectiveness of
management's strategies and decisions; (b) adverse changes in the
anticipated future demand for cold-finished rod, bar and related
products, (c) the company�s ability to complete the contemplated
project and other projects as planned and by the targeted
completion dates, (d) adverse changes in economic or aluminum
industry conditions generally; (e) adverse changes in the markets
served by the company, including the aerospace, defense, general
engineering, automotive, distribution and other markets; (f) the
company's ability to leverage its technologies and the Kaiser
Production System methodology; (g) developments in technology used
by the company, its competitors or its customers; (h) the company's
ability to successfully significantly improve the capabilities and
efficiencies of rod, bar and tube operations, and (i) the other
risk factors summarized in the company's Form 10-K for the year
ended December 31, 2007 and other reports filed with the Securities
and Exchange Commission.
Kaiser Aluminum (NASDAQ:KALU)
Historical Stock Chart
From May 2024 to Jun 2024
Kaiser Aluminum (NASDAQ:KALU)
Historical Stock Chart
From Jun 2023 to Jun 2024