Nash plant purchased for $300 million
NASH, TEXAS (KSLA) - Leaders with a major Bowie County industry has announced the sale of an aluminum plant for more than $300 million.
Arconic and T.C.I. Industries announced the sale of the Arconic Aluminum plant in Nash, Texas on Monday.
"As for as we now the sale has take place and they are going to be closing by the end of the year," said Doug Bowers, city administrator for Nash.
The Nash Texas plant offers a range of aluminum products for aerospace, automotive and commercial transportation.
The facility has been in the area over 30 years with the last year carrying the name Arconic. Bowers said the sell to Ta Chen International should give the region a big economic boost.
"Currently there is about 98 employees at the mill that operates it on a daily basis and this will bring it up to a total of 350 when they are finished growing," Bowers said.
In a news release on Arconic's website company president Tim Meyers stated:
"The strong market conditions for industrial product gave us an opportunity sell an asset that had been idle for several years". "This is a positive development for the dedicated workforce in Texarkana."
"Many employees at Red River Army Depot have loss their jobs recently and this may give them an opportunity to get back in the workforce and stay in the area."
"The Arconic mill is the largest tax base in the city of Nash, Texas to have it at full strength will be a great benefit to the city."
The parent company of Ta Chen Industries is located in Taiwan.
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