Almec, a global electric vehicle aluminum parts company, announced on the 17th that it held a completion ceremony for a foundry for the production of next-generation global electric vehicles at its AL aluminum Sacheon plant on the 16th of this month.
Almec, a global electric vehicle parts company, signed a large-scale investment agreement with the city of Sacheon in May 2022 to produce new villets at its AL aluminum Sacheon plant. It has made investments to establish an extrusion plant that will operate a foundry and the largest extruder in Korea. Aaluminum is a joint venture with a global U.S. electric finished car company.
The new foundry has cost competitiveness by applying a system that turns recycled aluminum scrap into a resource. It is a factory with an eco-friendly process that overcomes carbon border taxes and USMCA regulations by producing low-carbon aluminum.
The new factory built at the Sacheon plant has an area of some 20,000 square meters. It can produce 100,000 tons of billet a year. It has twice the production capacity. The new foundry, which is applied with cutting-edge technology to secure the best product quality, such as automation of major processes, will start operation in earnest from this month.
CEO Shin Sang-ho said, "We deeply appreciate Almecs large-scale investment decision and the hard work of its executives and employees until the completion of the foundry despite difficult conditions at home and abroad," and promised, "With this opportunity, we will create an opportunity for Almec and AL aluminum to leap forward once again."