INTOCAST announces $15M U.S. plant in Tennessee to produce magnesia-carbon refractories

2024-03-08

Mar. 6, 2024 - INTOCAST, a leading German manufacturer in the refractory products industry, has announced plans to establish its inaugural U.S. facility in Huntingdon, Tennessee. This strategic move involves a $15 million investment and is poised to generate 100 new jobs in Carroll County, marking a significant economic boost for the region. Matthias Normann, INTOCAST AG's CEO, emphasized the project's importance, highlighting it as a pivotal moment for the company in penetrating the American steelmaking market with high-quality refractories and on-site services.

Strategic Expansion and Economic Impact

The new INTOCAST facility, situated in the Huntingdon Industrial Park South, will focus on the production of magnesia-carbon (MgO-C) refractories and materials. This expansion not only signifies INTOCAST's commitment to global growth but also positions Tennessee as a central hub for the iron and steel industries in the U.S. The state's conducive business environment, skilled workforce, and strategic location were key factors in INTOCAST's decision to establish operations in Tennessee. State and local officials, including TNECD Commissioner Stuart C. McWhorter and TVA senior vice president of economic development John Bradley, have expressed their support and enthusiasm for INTOCAST's investment, underscoring the potential for long-term economic growth and job creation in Carroll County.

INTOCAST's Global Footprint and Industry Impact

With a network of 12 sites in Germany and 17 internationally, INTOCAST is renowned for its comprehensive range of shaped and unshaped refractory products, casting auxiliaries, and metallurgical slag additives. This expansion into the U.S. market is a strategic move to cater to a broader customer base, offering top-tier refractory solutions and services. The establishment of the Huntingdon facility represents INTOCAST's commitment to innovation and excellence in serving the iron and steel industries globally.

Future Prospects and Community Development

The INTOCAST project in Tennessee is not just an industrial investment; it's a catalyst for community development and economic revitalization in Carroll County. By creating 100 jobs and injecting $15 million into the local economy, INTOCAST is setting the stage for sustainable growth and prosperity. The collaboration between INTOCAST, state and local governments, and economic development organizations exemplifies a successful public-private partnership aimed at fostering industrial development and enhancing the quality of life for residents in the region.

Through this venture, INTOCAST and Tennessee are forging a new chapter in American steelmaking and refractory production. The anticipated success of this project underscores the importance of strategic investments and partnerships in driving economic development and job creation. As INTOCAST prepares to launch its U.S. operations, the future looks bright for Carroll County and the broader iron and steel industry in America.