“With this new capability, we will meet increasing demand for plate used for aircraft wing ribs, skins and other structural components, particularly in single-aisle builds. It also opens the door to growth in other markets, such as semi-conductors for consumer electronics and injection moulding for automotive applications,” said Tim Myers, president of Global Rolled Products, Transportation and Construction Solutions.
The USD137m investment is financially supported by the Iowa Department of Economic Development and the City of Riverdale. The support includes tax, financing and R&D credits as well as training grants for the Davenport workforce and new employees.
Construction on the project is expected to begin late this year with commercial production expected to start in 2019.