Alcoa Wheel & Forged Products expanded its wheel manufacturing plant in Hungary, doubling the company’s capacity in order to meet growing European demand for aluminum truck wheels.
“Our investments in forged aluminum truck wheels support Alcoa’s broader strategy to build out our value-add businesses and gain profitable share in growing downstream markets,” said Tim Myers, president of Alcoa Wheel and Transportation Products. “Sales of aluminum truck wheels are expected to increase from 30% of global sales in 2010 to 50% in 2018.”
The $13 million expansion will create 35 new permanent jobs in Hungary once the facility reaches full capacity. Demonstrating its support for the project, the Hungarian Government agreed to contribute $4.4 million through a government-led economic development initiative.