Alcoa to Build New Anode Plant to Serve Fjardaal in Iceland and Mosjoen in Norway.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Alcoa (NYSE NYSE See: New York Stock Exchange :AA) today announced it will invest approximately $284 million of the $314 million to build a new anode anode (ăn`ōd), electrode through which current enters an electric device. In electrolysis, it is the positive electrode in the electrolytic cell. anode Terminal or electrode from which electrons leave a system. plant that will be built in Mosjoen, Norway. The facility, which will be built together with Elkem ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and , will produce anodes for Alcoa's Fjardaal smelter in Iceland and the Mosjoen smelter in Norway, which is 50% held by Alcoa and Elkem. In addition, Alcoa owns 46% of the outstanding shares of Elkem. Construction of the anode plant is expected to be completed by 2007, in time to supply anodes for Alcoa Fjardaal, which will come on-line in 2007. Construction is contingent on Adj. 1. contingent on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent upon, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent government approvals. Upon completion, it is anticipated that the new anode facility will generate approximately 80 new permanent jobs in Mosjoen, not including local construction jobs. Anodes used in Mosjoen were previously purchased, but an analysis of the process showed significant financial benefits to self-production. Anodes are the electrodes toward which current flows during the smelting process of making aluminum. The new facility is being built to meet the demand for anodes. Alcoa's inert anode project, while promising, is still in the research and development stage and won't be ready for full commercial deployment in time for the Iceland smelter's start of production. In addition to expanding its presence in Mosjoen, Alcoa also has growing operations in Lista where it produces advanced automotive castings found on numerous automobiles and light trucks worldwide, and a 50 percent stake in the 90,000 metric ton per year Lista aluminum smelter (Elkem holds the remaining 50 percent). Alcoa is the world's leading producer and manager of primary aluminum, fabricated aluminum and alumina facilities, and is active in all major aspects of the industry. Alcoa serves the aerospace, automotive, packaging, building and construction, commercial transportation and industrial markets, bringing design, engineering, production and other capabilities of Alcoa's businesses to customers. In addition to aluminum products and components, Alcoa also markets consumer brands including Reynolds Wrap(R) foils and plastic wraps, Alcoa(R) wheels, and Baco(R) household wraps. Among its other businesses are vinyl siding Wikipedia is not the place for advertisement or self-advertising. Vinyl siding, first introduced to the exterior cladding market in the late 1950s, is an alternative to aluminum siding, fiber cement siding, and timber siding. , closures, fastening systems, precision castings, and electrical distribution systems for cars and trucks. The company has 120,000 employees in 43 countries and has been a member of the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. for 45 years and the Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance Sustainability Indexes since 2001. More information can be found at www.alcoa.com |
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