Cuprum rolling out US$100mn for 3 aluminum extrusion mills

Latin America's largest extruder of aluminum, Cuprum, is investing US$100mn to build a new plant in Mexico's Nuevo León state.

In comments reported by Mexican daily Reforma, Cuprum CEO Eugenio Clariond Rangel said the board members had already approved investment for three new aluminum profile extrusion mills to be built over the next three years.

The company is currently evaluating which of three industrial parks has the optimal power supply conditions, with properties in Santa Catarina and Apodaca cited as likely. The first of the mills would be in operation by mid-2023.

The problem, Clarion added, has been finding a site with access to adequate power, adding that with more plants on the horizon, the company is closely watching the current dispute with the US under the USMCA treaty.

"I'm concerned about this situation of fighting with the US on this energy issue, in which it's also absurd to continue betting on fossil fuels, which are more polluting and more expensive," Clarion was cited as saying by Reforma.

He added, "We’re energy intensive, not as much as other companies, but our demand is fairly high."

Clarion said there were only three options found with sufficient power supply, whereas 10 years ago there were between 10 and 15, a reflection of surging demand and declining expansion of generation capacity.

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Financing will come from the World Bank.

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