Norwegian aluminum producer Hydro is breaking ground for a new extrusion press in Suzhou to help satisfy the growing local demand of high-value extruded aluminium products and solutions.
Hydro expects to have around 600 employees in Suzhou when the new presses are brought into full production, which would make the site one of its larger extrusion-based locations in the world.
Hydro's NOK 315 million investment covers two new extrusion presses, including installation, building and construction, and auxiliary equipment. One of the new lines will be dedicated to heat transfer components and systems, while the other will be directed toward industrial customers who require added value services such as fabrication – the higher-end building and construction segment is an example.
Hydro is hosting a formal ground-breaking ceremony, fireworks included, for its new extrusion facility on September 16. "The numbers 6 and 9 – for the month – are 'lucky' numbers in Chinese culture, because they sound similar to words with positive meanings," says Bruno Frederix. "We want luck on our side."
Frederix is responsible for the investment project for the general extrusion part of the investment project, and he will later become managing director for the operation. "We want to extrude our first billet in August 2012 – one month ahead of schedule," he says.
The other extrusion press, which will start production some months earlier, will be part of the existing precision tubing operation. This plant, which opened in May 2005, delivers heat transfer components and systems to the automotive industry and for other non-automotive applications, like refrigeration and residential air conditioning systems.
Aluminium producer Hydro reports that earnings before financial items and tax fell to NOK 8 million in the third quarter from NOK 549 million in the previous quarter.
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