Alcoa announced today a $83 million (€70 million) investment in a major modernization project at Alcoa-Köfém Ltd, its operations in Hungary. The modernization includes the expansion of flat-rolled mill products capability and related infrastructure, addition of Dura-Bright aluminum wheel production in Hungary, and launching a new manufacturing operation for airfoil castings. The modernization project will create nearly 200 new jobs at Alcoa-Kofem. Alcoa expects the project to be completed by the end of 2007. "This decision strengthens Alcoa's presence in Europe and its long-term strategic investment in Hungary," said Béla Forgó, Country Manager Hungary and General Manager, Alcoa-Kofem. "This modernization project renews the product mix at Alcoa-Kofem toward higher value added products." The core of the investment is the modernization of Alcoa-Kofem's Flat Rolled Products manufacturing unit, which involves expansion of its brazing sheet capability to offer a full range of gauges. Brazing sheet is used primarily in the automotive and heat exchanger markets. Kofem currently produces sheet, coil and some brazing sheet at Székesfehérvár.
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.