Noranda Plans Upgrade at SE Missouri Plant
NEW MADRID (AP) - Noranda Aluminum Holding Corp. is expanding its plant in the southeast Missouri town of New Madrid, an expansion expected to create 29 jobs.
Gov. Jay Nixon joined Noranda officials on Friday in New Madrid for the announcement.
Noranda will spend $45 million on the expansion. The state is providing economic development incentives that require the company to meet job creation and investment criteria.
The company announced a $38 million investment in 2010 to increase the aluminum smelter's annual production capability by about 35 million pounds. The latest project includes an 80,000 square-foot expansion and allows for the purchase of new equipment.
Noranda president and CEO Layle Smith says the New Madrid smelter accounts for about 13 percent of all U.S. primary aluminum production.