Swedish aluminium company Gränges AB has completed the purchase of Noranda downstream aluminium rolling business in the United States. The company won the court supervised auction to acquire Noranda Aluminum assets in July this year.
Gränges CEO Johan Menckel said, "“We are very happy to be the owner of the Noranda downstream business, specifically here, the operation in Huntingdon.” It was indeed a milestone moment for the company. Menckel along with his other colleagues made it to the Carroll County to celebrate the moment. They said they were excited to be setting up their first plants in North America.
“It’s a very well-run business — well-managed, very skilful workforce, competent people in a strong business position in North America,” Menckel said. “And of course, it’s a major benefit for Gränges.”
Brad Hurley, president of the Carroll County Chamber of Commerce, said, "It’s all about the productivity. It’s all about profitability.” “When you took a long, hard look and you looked at aluminium rolling operations, Huntingdon, Tennessee, has some of the most sophisticated operations in the world.”
For Gränges, building on that productivity remains as a priority and they aim at doing so in the coming years once the merger has been properly effectuated.
“We have a clear objective to expand of course and to produce all our products for North America in North America, meaning of course that additional investments are needed in the future,” said Menckel.
According to a Gränges official release, all 400 employees at Noranda's Huntingdon plant will be retained and re-trained, if required, as per new workflow processes followed by the company.
Gränges looks forward to adding a number of strategic and attractive market segments in rolled aluminium. Through the acquisition, the aluminium maker's business is significantly strengthened, creating very good opportunities for continued profitable growth, said an earlier release by Gränges.
The Swedish aluminium producer also purchased the assets at Noranda plants in North Carolina and Arkansas.
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