Alcoa Invests in Hungary

Alcoa has announced a US $83 million (Euro 70 million) investment in its Hungary based operation. The injection will modernise Alcoa-Kofem Ltd., expanding its products capability and related infrastructure, and adding new aluminum wheel production.

The project will create nearly 200 new jobs at Alcoa-Kofem and will be completed by the end of 2007. It will increase its capacity to produce flat-rolled mill products, will begin producing Dura-Bright® aluminium wheels and will launch a new manufacturing operation for airfoil castings.

”This decision strengthens Alcoa’s presence in Europe and its long-term strategic investment in Hungary,” said Bela Forgo, country manager Hungary and general manager, Alcoa-Kofem. “This modernisation project renews the product mix at Alcoa-Kofem toward higher value added products.”