Alcoa Wins Fourth Boeing Contract in String of Recent Deals
29 January 2016 - 12:30AM
Business Wire
Contract Draws On Recently Expanded Aerospace
Capabilities
- Long-term agreement draws on
capabilities gained through Firth Rixson acquisition and new
aluminum-lithium facility in Lafayette, Indiana
- Strengthens Alcoa’s position on
high-growth platforms, including the 777X and 737 MAX
- Fourth recent multi-year agreement with
Boeing
- Alcoa has secured approximately $10
billion in aerospace contracts in the last 12 months
Lightweight metals leader Alcoa (NYSE:AA) today announced a
long-term supply agreement with Boeing for multi-material aerospace
parts. Under this agreement, Alcoa will supply components for the
777X—Boeing’s newest commercial airplane—the 737 MAX—scheduled for
first delivery in 2017—and the 787 Dreamliner. The deal draws on
capabilities gained through the Firth Rixson acquisition and the
Company’s new aluminum-lithium facility in Lafayette, Indiana.
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Lightweight metals leader Alcoa has
signed a long-term agreement with Boeing for components for Boeing
airplanes, including the 737 MAX 8, shown here. (Photo courtesy of
Boeing)
“This is the latest in a series of Boeing contract wins made
possible by Alcoa’s recent aerospace investments,” said Alcoa
Chairman and Chief Executive Officer Klaus Kleinfeld. “Alcoa has
successfully built a strong leadership position in this market and
we are proud to see our home-grown innovations and new products
create value for our customers.”
Under the new agreement, Alcoa Forgings and Extrusions will
supply differentiated components for Boeing’s airplanes, including
the wing, fuselage, and landing gear. These include:
- Advanced titanium landing gear parts
and complex titanium nacelle fittings for the 737 MAX, made using
specialized presses gained through the Firth Rixson
acquisition;
- Boeing’s first-ever aluminum-lithium
extrusion produced at Alcoa’s Lafayette facility for the 777X cargo
floor, helping save weight and improve corrosion resistance;
and
- Large, near net shaped parts that
improve the efficiency and help reduce the costs of Boeing’s
in-house machining.
This transaction is the fourth multi-year agreement recently
announced with Boeing. In December 2015, Alcoa announced long-term
supply contracts with Boeing for fastening systems and titanium
seat track assemblies. In September 2014, Alcoa announced a
significant Boeing contract win which established Alcoa as a sole
supplier of wing skins on all of Boeing’s metallic structure
airplanes.
Alcoa has secured approximately $10 billion in aerospace
contracts since the start of 2015, including the Boeing
transactions, drawing on the Company’s growing aerospace
portfolio.
About Alcoa Aerospace
Alcoa’s aerospace businesses will form part of the new Value-Add
Company, to be launched following Alcoa’s previously announced
separation in the second half of 2016. The Value-Add Company will
be a differentiated supplier to the high-growth aerospace industry
with leading positions on every major aircraft and jet engine
platform, underpinned by market leadership in jet engine and
industrial gas turbine airfoils, and aerospace fasteners.
About Alcoa
A global leader in lightweight metals technology, engineering
and manufacturing, Alcoa innovates multi-material solutions that
advance our world. Our technologies enhance transportation, from
automotive and commercial transport to air and space travel, and
improve industrial and consumer electronics products. We enable
smart buildings, sustainable food and beverage packaging,
high-performance defense vehicles across air, land and sea, deeper
oil and gas drilling and more efficient power generation. We
pioneered the aluminum industry over 125 years ago, and today, our
more than 60,000 people in 30 countries deliver value-add products
made of titanium, nickel and aluminum, and produce
best-in-class bauxite, alumina and primary aluminum products. For
more information, visit www.alcoa.com, follow @Alcoa on
Twitter at www.twitter.com/Alcoa and follow us on Facebook at
www.facebook.com/Alcoa.
About Alcoa Forgings and Extrusions (AFE)
Alcoa Forgings and Extrusions, a major business unit of Alcoa
Inc. (NYSE: AA), is a global leader in the manufacture of
lightweight materials and structures in aluminum, titanium and
superalloy. AFE is also a leading ingot supplier of proprietary
aluminum and other advanced alloys that include aluminum lithium
and nickel-based superalloys. Serving the aerospace, military,
transportation, energy and industrial markets, its products are
primarily used in commercial and military aircraft, commercial
vehicles and oil and gas exploration.
Forward-Looking Statements
This release contains statements that relate to future events
and expectations and as such constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements include those containing such
words as “anticipates,” “expects,” “plans,” “should,” “will,”
“would,” or other words of similar meaning. All statements that
reflect Alcoa’s expectations, assumptions or projections about the
future other than statements of historical fact are forward-looking
statements, including, without limitation, statements regarding
Alcoa’s separation transaction; the future performance of Value-Add
Company if the separation is completed; projections of competitive
position, market share, or growth opportunities of Value-Add
Company; and the expected timing of completion of the separation.
Forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties, and changes in
circumstances that are difficult to predict. Such risks and
uncertainties include, but are not limited to: (a) uncertainties as
to the timing of the separation and whether it will be completed;
(b) the impact of the separation on the businesses of Alcoa; (c)
Alcoa’s inability to realize expected benefits from the separation
or the risk that the separation may be more difficult,
time-consuming or costly than expected, which could result in
additional demands on Alcoa’s resources, systems, procedures and
controls, disruption of its ongoing business and diversion of
management’s attention from other business concerns; (d) the
potential failure to retain key employees while the separation
transaction is pending or after it is completed; (e) deterioration
in global economic and financial market conditions generally; (f)
unfavorable changes in the markets served by Alcoa, including the
aerospace market; and (g) the other risk factors discussed in
Alcoa’s Form 10-K for the year ended December 31, 2014, and other
reports filed with the U.S. Securities and Exchange Commission.
Alcoa disclaims any obligation to update publicly any
forward-looking statements, whether in response to new information,
future events or otherwise, except as required by applicable law.
Market projections are subject to the risks discussed above and
other risks in the market.
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version on businesswire.com: http://www.businesswire.com/news/home/20160128005251/en/
AlcoaInvestor ContactNahla Azmy,
212-836-2674Nahla.Azmy@alcoa.comorMedia ContactChrista Bowers,
212-836-2605Christa.Bowers@alcoa.com
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