Hydro invests US$85m in recycled aluminium products
London, May 30, 2024 , (Oilandgaspress) –– Aluminium and renewable energy company Hydro has decided to invest USD 85 million in a new casting line to strengthen its aluminium recycling plant in Henderson, Kentucky. The new line will become operational in 2026 and supply the U.S. automotive market with high-quality automotive components.The investment decision was announced by Hydro’s President and CEO, Eivind Kallevik, at a meeting with the Governor of Kentucky.
The investment is backed by tax incentives from the Kentucky Economic Development Finance Authority (KEFDA) and will provide 31 new jobs in the city of Henderson. The new casting line will increase capacity by 28 000 tonnes (62 million pounds) of aluminium and strengthen Hydro Henderson’s position as a leading producer of low-carbon aluminium for the North American automotive industry.
The new project introducing HyForge technology at Hydro Henderson follows in the footsteps of the successful implementation of the HyForge casting technology at the Hydro Husnes primary plant in Norway and the Hydro Rackwitz recycling plant in Germany.
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