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Filtering by entity: Rosemount business | Clear Filter
Summary:An expanded aluminum plant in Rosemount, Minnesota, is increasing domestic aluminum supply in response to tariffs, demonstrating the positive local impact of such policies.
Sentiment:Triumphant
Key Claims:
- A Rosemount business, Spectro Alloys, has expanded its operations.
- The expansion is contributing to an increased domestic supply of aluminum.
- The growth in domestic aluminum supply is occurring in the face of tariffs.
- A 50% tariff on aluminum, set by President Donald Trump in June, is a factor in this development.
- Spectro Alloys has become a significant purchaser of industrial metal scrap.
- The company supplies aluminum billets to major manufacturers including General Motors, Tesla, Black & Decker, and Caterpillar.
- The expansion is projected to increase Spectro Alloys' business by 50% and create 50 new jobs.
- Spectro Alloys is majority-owned by EGA Global Aluminum, based in the United Arab Emirates.
- The expansion involved a $71 million investment.
Potential Market Impact (S&P 500):2/10
Potential Geopolitical Risk:1/10
Potential Global Cross-Asset Impact:2/10
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