Kaiser Aluminum Corp in Foothill Ranch said it will spend $150 million on equipment upgrades at its Spokane, Wash. facility over the next five years. The investment will reduce costs, increase efficiency and expand manufacturing capacity, according to the company.
The Trentwood rolling mill produces aluminum coil, sheets and plates for the aerospace, automotive and general engineering industries.
President and Chief Executive Jack Hockema said he expects continued growth and an increasingly competitive environment in markets served by Trentwood.
“Initial spending has commenced in 2015, and equipment is on order to move forward on the project in 2016,” Hockema said in a news release. “We expect to begin to realize a reduction in conversion costs and a 5%-10% increase in capacity by early 2018.”
Kaiser Aluminum has a market value of about $1.5 billion.
