Siemens and Chromalloy Gas Turbine Corp. recently entered a partnership to form a new joint venture called Advanced Airfoil Components. The new company’s primary scope will be turbine blade and vane cast components for power generation.

Both partners will invest approximately $130 million to create a new production facility in Tampa, Florida. The investment is expected to create up to 350 new jobs.

"Chromalloy is excited to take our relationship with Siemens to the next level," said Carlo Luzzatto, Chromalloy president. "Continuing to build our partnership is very important and shows the value we place in each other's capabilities and expertise. And we are excited to bring those capabilities to help create and grow this new business with Siemens."

The new production facility is scheduled for completion in the fall of 2018. The stand-alone manufacturing plant will supply only to Siemens. Start-up part qualifications and production shipments will be processed at Chromalloy's existing facility.

"The decision to form a joint venture and a new production facility continues our strong commitment to the U.S. as a business location," said Willi Meixner, CEO of the Siemens Power and Gas Division. "Siemens and Chromalloy already have a long-lasting supplier relationship. Our new joint venture will exclusively supply Siemens with casting components for our gas turbines."

For more information, visit www.siemens.com.