Wieland North America to invest $500M to modernize East Alton facility
Governor JB Pritzker, Wieland Rolled Products North America, and the Illinois Department of Commerce and Economic Opportunity (DCEO) today joined local leaders and partners to announce a new Reimagining Energy and Vehicles in Illinois (REV Illinois) agreement for Wieland’s $500 million investment in modernizing its East Alton facility – one of six across Illinois.
The investment, which retains 800 jobs across the state, will enable the company to increase production of critical copper and copper alloy components that are used in electric vehicles (EVs), EV charging infrastructure and renewable energy production while supporting the state’s clean energy economy.
As part of its commitment to Illinois advanced manufacturing modernization, Wieland will invest $500 million to modernize its East Alton facility. Wieland’s footprint in Illinois also includes facilities in Carol Stream, Granite City, Montgomery, Tinley Park, and Wheeling.
The announcement is the product of a year of work between the State and Wieland to ensure Illinois secured this transformative investment. Wieland’s modern plant in Vöhringen, Germany, which Governor Pritzker toured alongside Wieland CEO Dr. Erwin Mayr, was used as a benchmark for the modernization of the East Alton facility.
The modernization paves the way for increased and improved production of high-quality copper and copper alloy components for EVs, EV charging infrastructure and renewable energy production through the installation of a new state-of-the-art hot rolling mill in the East Alton facility. By re-equipping, expanding and modernizing its facility, Wieland will increase its operational efficiency and deliver even higher standards of quality and reliability for its portfolio of copper and copper alloy rolled product solutions.
Wieland’s total incentive package from the State of Illinois, which includes REV and other incentives, is valued at approximately $231 million. Through REV, Wieland is eligible to receive tax benefits totaling $172 million over 30 years. A link to the executed REV agreement can be found here. The remaining benefits include capital funding for infrastructure projects in East Alton, which includes the construction of a new electricity substation, flexible funds for workforce support, and additional tax incentives.
Look for the full story in the February 2024 issue of the Illinois Business Journal.
