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Stock Market & Financial Investment News

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April 1, 2014
08:04 EDTAAAlcoa invests $40M in Itapissuma, Brazil, rolling mill
Alcoa announced a $40M in its Itapissuma, Brazil, rolling mill to increase production of specialty foils for aseptic and flexible packages. Demand for specialty packaging in Brazil is expected to rise seven percent annually over the next three years due to population growth and consumer preference. All additional capacity has been fully committed. The expansion is expected to add approximately 50 jobs at the plant following ramp-up of production. Initial work for the expansion is underway and commissioning is expected to begin in 2016. This investment is part of Alcoa’s ongoing portfolio transformation to build out its value-added mid- and downstream businesses to capture profitable growth.
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