CHICAGO Noranda Aluminum Holding Corp. will invest $45 million to build an 80,000-square-foot expansion at its operation in New Madrid, Mo.
The expansion will allow the facility to make redraw rod for electrical infrastructure applications, Missouri Gov. Jay Nixons office said in a release. The project is expected to create 29 jobs.
The expansion is for a new rod mill that company executives previously discussed, a Noranda spokesman confirmed to AMM.
Noranda chief financial officer Robert Mahoney said during the companys second-quarter earnings conference call July 24 that the rod mill would be in New Madrid (amm.com, July 24). "Other than Bob said it on the call ... weve never really said it was in New Madrid," the spokesman said.
Franklin, Tenn.-based Noranda will receive a package of incentives from the state of Missouri if the company meets job-creation and investment criteria.
The New Madrid smelter accounts for about 13 percent of U.S. primary aluminum production, Noranda president and chief executive officer Layle "Kip" Smith said in a statement. "Missouris skilled work force and competitive business climate have allowed us to compete in the global market, and we look forward to our continued growth in aluminum production."
The New Madrid smelter, built in 1968, is one of the biggest employers in southeast Missouri, with more than 1,000 workers.