Brief: Gränges Invests USD 52 Million In Expanded Recycling And Casting Centre
13/04/2022 08:33
April 13 (Reuters) - Granges AB GRANG.ST :
* GRÄNGES TO ENABLE NEAR-ZERO ALUMINIUM SOLUTIONS BY USD 52
MILLION INVESTMENT IN EXPANDED RECYCLING AND CASTING CENTRE
* NEW CENTRE WILL BE POWERED VIA RENEWABLE ELECTRICITY AS
PART OF
TENNESSEE VALLEY AUTHORITY (TVA) GREEN INVEST PROGRAM
* INVESTMENT WILL RESULT IN SIGNIFICANT COST REDUCTIONS AND
CONTRIBUTE POSITIVELY TO GRÄNGES' OPERATING PROFIT AND RETURN ON
CAPITAL EMPLOYED RATIO FROM 2024 AND ONWARDS
* INVESTMENT IS ESTIMATED TO TAKE AROUND TWO YEARS TO
COMPLETE,
AND GRÄNGES AMERICAS' NEAR-ZERO CARBON PRODUCT PORTFOLIO WILL BE
AVAILABLE FROM MID-2024 WITH AN ESTIMATED CAPACITY OF 25 KTONNES
* TOTAL PRODUCTION CAPACITY IN GRÄNGES AMERICAS WILL REMAIN
AT 260
KTONNES FINISHED PRODUCT AFTER COMPLETION OF INVESTMENT
Source text for Eikon: ID:nMFN5l821T
Further company coverage: GRANG.ST
(Gdansk Newsroom)
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