Gränges of Sweden announced Thursday that it will invest $26 million to expand its Newport operations and create 100 full-time jobs.
The Newport plant employs 21 people and manufactures aluminum for various light gauge foil applications, such as food-grade packaging.
“This investment builds on our foil strategy as we invest to once again serve our light gauge foil customers and their growth plans,” Gränges Americas President Patrick Lawlor said in a news release.
Gov. Asa Hutchinson said in the release, “Gränges is a great example of the momentum we’re seeing in foreign direct investment in Arkansas. This expansion shows that Gränges has the confidence that the talent here in Arkansas will move the company forward and continue to help them succeed in the global marketplace.”
In 2016, Gränges purchased Noranda Aluminum and acquired the Newport facility along with facilities in Huntington, Tennessee, and Salisbury, North Carolina. The Newport plant has one of the widest aluminum rolling mills in the country and utilizes a proprietary coating process.
“Gränges’ investment in this facility, one of the longest operating manufacturing plants in Jackson County, is a tremendous boost for our local economy,” Jon Chadwell, director of economic development for the Newport Economic Development Commission, said in the release. “We are thrilled to have 100 jobs returning to Jackson County. These jobs pay significantly higher than our average wage and will give local citizens a chance to improve their family income right here at home.”
Gränges also manufactures products for HVAC, transformers and the automobile industry. About half of the cars produced in the world today contain materials produced by Gränges, company officials said.