Aluminum plant to invest $7 million in Terre Haute and grow its staff
TERRE HAUTE, Ind. (Inside INdiana Business) — Atlanta-based Novelis Inc. says it plans to invest $7 million to expand its aluminum processing plant in Terre Haute. The company says it will hire 37 new employees and restart several pieces of equipment that have been idle. Novelis currently employs 155 Hoosiers at the plant which recycles aluminum and produces rolls of aluminum used in in a variety of industries.
The company says with the expansion, the plant will produce aluminum foil sheets and rolls used in commercial and residential kitchens later this year. Novelis says it secured several multi-year agreements with key customers, which prompted the investment.
The Indiana Economic Development Corp. offered Novelis up to $475,000 in conditional tax credits based on the company’s job creation plans.
In March 2020, the Trump Administration initiated antidumping and countervailing duty investigations against 18 nations to determine whether aluminum sheets produced in those countries were being sold in the U.S. at less than fair value, undercutting prices from U.S. manufacturers.
Novelis says due to the success of these cases, it has decided to reenter the aluminum market market.