) announced that it is investing $13 million in Szekesfehervar,
Hungary, to expand its plant to meet increasing European demand
for truck wheels, which are more durable and lightweight than
earlier models with minimum maintenance.
With the expansion of the plant, Alcoa will be able to produce
twice as many Dura-Bright EVO surface-treated wheels in Europe by
early 2015. The Dura-Bright EVO has all the benefits which were
present in its predecessor, the Dura-Bright wheel with XBR
The Dura-Bright EVO surface-treated wheel is 10 times more
resistant to corrosion primarily caused by road salts and weather
elements and is also about three times more resistant to
chemicals, including hydrofluoric acid, found in the toughest
truck cleaning agents. Dura-bright treated wheel helps in
retaining the shine even after use for many years without the
need for polishing.
Alcoa commenced the construction on the product line expansion in
Jan 2014 and expects it to complete in early 2015. The expansion
will create 35 new permanent jobs and around 215 temporary jobs
during construction. In addition to Alcoa's $13 million
investment, the Hungarian government will also contribute $4.4
million toward the construction through its Regional Operative
The expansion will increase Alcoa's presence in Hungary and add
to its portfolio which produces value added products for the
automotive and aerospace industries.
Alcoa, a prominent player in the mining industry along with
Aluminum Corporation of China Ltd.
Atlatsa Resources Corp.
BHP Billiton Ltd.
), is a world leader in production and management of primary
aluminum, fabricated aluminum, and alumina.
Alcoa currently retains a Zacks Rank #2 (Buy).
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