Tags: Alcoa | Aluminum | Boeing | Planes

Alcoa Signs Aluminum Deal With Boeing Worth More Than $1 Billion

Thursday, 11 Sep 2014 10:02 AM

Alcoa Inc. has signed a long-term contract to supply planemaker Boeing Co. with aluminum sheet and plate that is worth more than $1 billion, the metals company said on Thursday.

The new contract is the largest ever signed between the two companies, said Alcoa, a longtime Boeing supplier. It did not disclose a precise value or time frame.

Alcoa has been expanding its aerospace business, and in June announced a $2.85 billion deal to buy jet engine part maker Firth Rixson.

Though it helped create the modern aluminum industry more than a century ago, Alcoa is eager to produce higher-margin, specialized parts for aerospace and automotive customers, even if they contain other metals or no aluminum at all.

Alcoa said the agreement announced on Thursday "establishes a foundation for continued collaboration" on new alloys, including aluminum-lithium.

The deal makes Alcoa the sole supplier of wing skins for Boeing airplanes that have a metallic structure.

© 2017 Thomson/Reuters. All rights reserved.

 
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Alcoa Inc. has signed a long-term contract to supply planemaker Boeing Co. with aluminum sheet and plate that is worth more than $1 billion, the metals company said on Thursday.
Alcoa, Aluminum, Boeing, Planes
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2014-02-11
Thursday, 11 Sep 2014 10:02 AM
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