(PRESS RELEASE) OSLO, 29-Jul-2021 — /EuropaWire/ — Hydro announces its EUR 41 million ($48.3 million) investment for asset modernization in Cressona, Pennsylvania, to support the growing transportation, distribution, and industrial market segments in North America.
The company will continue its strategy of asset modernization with the installation of a state-of-the-art 3,000-ton 12” indirect aluminium extrusion press line at its Cressona facility. Not surprisingly, this investment follows closely on the heels of the site’s highly successful 2019 greenfield installation of a 10” extrusion press to serve the automotive and distribution markets.
“We are very excited about the decision to continue investing in new assets at Cressona, and I am certain that our history of delivering strong results on past investments was a key factor,” said Mike Hammer, Senior Director of Operations for Hydro’s Cressona and North Liberty facilities.
“This new press will create a strong foundation as we drive our manufacturing process to the next level in Cressona.”
Building upon the site’s recent press project, the equipment will utilize advanced Industry 4.0 technology to achieve improved quality, reliability, and productivity and achieve benchmark energy consumption levels. Hydro expects this press to be operational by late 2023.
Vice President, People, communication and sustainability, Hydro Extrusions
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SOURCE: Norsk Hydro ASA