America’s UAW labour body is welcoming the US government’s decision to make a conditional commitment for a US$259m loan to Alcoa.
The conditional commitment is the first issued by the Department of Energy under the Advanced Technology Vehicles Manufacturing (ATVM) loan programme since Secretary Ernest Moniz announced a number of improvements to it last year and is the first step toward issuing a final loan to Alcoa.
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If confirmed, the loan would support the company’s Alcoa, Tennessee, manufacturing facility, where the company will produce high-strength aluminium for North American automakers looking to lightweight their vehicles.
“The Department’s ATVM loan program can play an important role in helping to finance expanded domestic manufacturing of fuel-efficient technologies that will support the next generation of advanced vehicles and protect the environment by reducing greenhouse gas emissions,” said Moniz.
“To date, the programme has supported the production of millions of American-made cars that are more fuel-efficient and technologically advanced than previous models.
“The UAW has been a strong supporter of the ATVM programme from its inception,” said UAW president, Dennis Williams. “This programme is critical for improving fuel efficiency and strengthening domestic manufacturing and increasing our nation’s competitiveness.”
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By GlobalData“UAW members who proudly build the Ford F150 are utilising lightweight aluminium to build the next generation of vehicles. The Department of Energy’s conditional loan to expand Alcoa’s factory in Tennessee will enhance the work of UAW members and will create more job security for them and manufacturing workers across the country.”
For his part, Secretary Moniz noted: “The Department’s ATVM loan programme can play an important role in helping to finance expanded domestic manufacturing of fuel-efficient technologies that will support the next generation of advanced vehicles and protect the environment by reducing greenhouse gas emissions.
“To date, the programme has supported the production of millions of American-made cars that are more fuel-efficient and technologically advanced than previous models.”
