press release -- wise alloys plans cold mill expansion

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PRESS RELEASE For immediate release August 24, 2012 SUBJECT: Wise Alloys plans Cold Mill expansion and will add jobs CONTACT: Sandra Scarborough, Senior Vice President, Corporate Human Resources, Wise Metals Group, 4805 Second Street, Muscle Shoals AL 35661. Phone 256-386- 6354; email [email protected] MUSCLE SHOALS, AL — Wise Alloys plans to spend $59.8 million to expand its Cold Mill operation in Muscle Shoals, and will add at least 35 new jobs in the process. The expansion was announced today by Wes Oberholzer, Executive Vice President and COO of Wise Metals Group, the parent company. “To handle growing customer demand, we initially expanded our business into the wide can sheet market after completing modifications to an existing mill in 2009”, said Oberholzer. “Our customers are asking for more of our wide can body sheet, and our next cold mill expansion will allow us to produce that volume. We are delighted to be in a position where we can continue to expand to meet our growing customers’ needs. Given our strong partnership with the Retirement Systems of Alabama and the support of the Shoals area, it is very rewarding that this expansion will happen in our Muscle Shoals location and will add jobs.”

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Wise Alloys plans to spend $59.8 million to expand its Cold Mill operation in Muscle Shoals, and will add at least 35 new jobs in the process.August 24, 2012

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Page 1: Press Release -- Wise Alloys Plans Cold Mill Expansion

PRESS RELEASE For immediate release

August 24, 2012

SUBJECT: Wise Alloys plans Cold Mill expansion and will add jobs

CONTACT: Sandra Scarborough, Senior Vice President, Corporate Human Resources,

Wise Metals Group, 4805 Second Street, Muscle Shoals AL 35661. Phone 256-386-

6354; email [email protected]

MUSCLE SHOALS, AL — Wise Alloys plans to spend $59.8 million to expand its Cold

Mill operation in Muscle Shoals, and will add at least 35 new jobs in the process. The

expansion was announced today by Wes Oberholzer, Executive Vice President and COO

of Wise Metals Group, the parent company.

“To handle growing customer demand, we initially expanded our business into the wide

can sheet market after completing modifications to an existing mill in 2009”, said

Oberholzer. “Our customers are asking for more of our wide can body sheet, and our next

cold mill expansion will allow us to produce that volume. We are delighted to be in a

position where we can continue to expand to meet our growing customers’ needs. Given

our strong partnership with the Retirement Systems of Alabama and the support of the

Shoals area, it is very rewarding that this expansion will happen in our Muscle Shoals

location and will add jobs.”

Page 2: Press Release -- Wise Alloys Plans Cold Mill Expansion

According to Joe Pampinto, Senior Vice President and Plant Manager, the proposed

expansion will include purchasing a mill, bringing it to Muscle Shoals, and combining it

with existing equipment to create a cold mill that will produce a wider sheet at finished

gauge. A new wide slitter will also be installed to trim the sheet to finished width.

“Construction will begin with engineering in September, 2012,” said Pampinto, “and will

be finished in the last quarter of 2014. Customer orders will be produced beginning in

early 2015.”

Wise has made application with the Shoals Economic Development Authority’s

Economic Development Fund for assistance with the expenses associated with this

expansion. Twenty eight production positions, five maintenance positions and two

engineering jobs will be created through this expansion.

“We have strong partnerships with the economic development agencies in this area and in

the state of Alabama,” said Oberholzer, “and are lucky to have such a strong network of

support. Our growth has allowed us to serve our customers, and in doing so we also work

hard to serve the communities where we are located. We think spending almost $60

million for an expansion of this type and creating jobs in the process is a win-win

situation for everyone involved.”

Wise Metals Group is the holding company whose divisions include Wise Alloys, the

nation’s third largest producer of aluminum can stock for the beverage industry. Wise

Recycling, one of the largest direct-from-the-public collectors of aluminum beverage

Page 3: Press Release -- Wise Alloys Plans Cold Mill Expansion

containers in the United States; Total Maintenance Center, which provides maintenance,

fabrication and repair to manufacturing and industrial plants worldwide; and Alabama

Electric Motor Service, which sells and repairs industrial electric motors. Wise Metals

Group moved its corporate headquarters to the Shoals area of Alabama in the fall of

2011.

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