Record investment in Holmestrand

One of the largest industrial investments in the Norwegian province of Vestfold becomes now a reality, as Speira is investing over NOK 400 million in a new furnace. The project to install the furnace in the foundry at Speira’s Holmestrand site will be extensive and is expected to be completed by the summer of 2026.

“This investment secures a large number of jobs in Holmestrand for the foreseeable future. The old furnace has been in place for 50 years, and the new one is expected to last at least another 50 years. This is very good news,” says Jon Gaasholt, plant manager at Speira Holmestrand.

Speira's supervisory bodies have now approved the investment totaling NOK 414 million. A furnace for recycled material in the foundry has long been on the wishlist in Holmestrand.

With the new furnace, Speira Holmestrand will receive 22,000 tons more scrap every year. This means that around half of the company's production will be based on recycled scrap. This will reduce the carbon footprint in Holmestrand by 150,000 tons of CO2. The furnace will reduce NOx emissions and odors from the site. It is also prepared for a future transition to non-fossil energy that will further reduce emissions.

“We have a stated goal of setting the standard for sustainability in our industry. It is about being strongly connected to the community where we work and live, and being conscious of the role we can play in securing a sustainable future. Optimization of production, processing, and recycling are key in this context,” says Gaasholt.

The new investment is one of several that Speira has made in Norway since the rolling and recycling company spun-off from Hydro in 2021. With nearly NOK 600 million in new investments over the past three years, Speira has acquired new and modern equipment, both in Holmestrand and at the company's facility in Karmøy. In addition to the furnace, the company has upgraded several of its production lines.

“Investment in new equipment is crucial for Speira to remain competitive in the future. The new furnace will help cement our position as a leading player in rolled and recycled aluminum products,” says the plant manager.

Gaasholt explains that Speira is entering a busy period with high activity levels: “We have talented people on our team, and it’s exciting to see how our skilled employees work hard to ensure our success every single day. I am proud to showcase what we achieve here in Holmestrand.”