Lightweight metals leader Alcoa (NYSE:AA) has signed a long-term supply agreement with Boeing (NYSE: BA) 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.
Under the new agreement, Alcoa Forgings and Extrusions will supply differentiated components for Boeing´s airplanes, including the wing, fuselage, and landing gear.
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 USD10 billion in aerospace contracts since the start of 2015, including the Boeing transactions, drawing on the company´s growing aerospace portfolio.
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