Alcoa (AA), Airbus Enter Supply Agreement Valued at $1.4B
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Price: $8.48 -0.7%
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Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 3.8%
Revenue Growth %: -3.0%
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Alcoa (NYSE: AA) today announced it has signed new multi-year supply agreements with Airbus for Alcoa`s leading aerospace aluminum sheet, plate and hard alloy extruded products utilizing Alcoa`s current, advanced-generation and aluminum lithium alloys. The agreements were signed this week at the Farnborough Air Show. Terms were not disclosed, but the agreements have a value of approximately US$1.4 billion over their life.
Alcoa`s leading aluminum solutions will be used across virtually all Airbus commercial programs and includes new lower wing skins on the A320; several aluminum lithium applications on the A350 and A380, including the largest extruded lower wing stringers for the A380; as well as the largest wing skins and fuselage panels for the A380 and structural plate for the A350. Alcoa`s hard alloy extruded products, including rod, drawn tubing and extruded shapes for wing stringers and floor structures, will be supplied from the company`s plants in Lafayette, Indiana and Halethorpe in Baltimore, Maryland in the U.S., and Hannover in Germany. Alcoa flat rolled products will be supplied from the
company`s plants in Davenport, Iowa in the United States, Kitts Green in the U.K., and Belaya Kalitva in Russia. A new greenfield plant in Lafayette as well as facilities in Kitts Green and at the Alcoa Technical Center, Pennsylvania will cast aluminum lithium to support the global Alcoa aerospace supply chain.
Alcoa`s aerospace business comprises 4 units with operations across the world totaling approximately $3.4 billion in annual revenues and #1 share positions in their markets: Alcoa Global Rolled Products and Alcoa Forgings and Extrusions serving the structures market; and Alcoa Fastening Systems and Alcoa Power and Propulsion. Alcoa`s aerospace solutions run from nose to tail and from wing-tip to wing-tip. Alcoa has been at the forefront of every major milestone in aerospace history based on its commitment to continually innovate and a "beyond materials" philosophy - where materials, structures, and designs work in concert to provide optimal solutions for customers.
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Alcoa`s leading aluminum solutions will be used across virtually all Airbus commercial programs and includes new lower wing skins on the A320; several aluminum lithium applications on the A350 and A380, including the largest extruded lower wing stringers for the A380; as well as the largest wing skins and fuselage panels for the A380 and structural plate for the A350. Alcoa`s hard alloy extruded products, including rod, drawn tubing and extruded shapes for wing stringers and floor structures, will be supplied from the company`s plants in Lafayette, Indiana and Halethorpe in Baltimore, Maryland in the U.S., and Hannover in Germany. Alcoa flat rolled products will be supplied from the
company`s plants in Davenport, Iowa in the United States, Kitts Green in the U.K., and Belaya Kalitva in Russia. A new greenfield plant in Lafayette as well as facilities in Kitts Green and at the Alcoa Technical Center, Pennsylvania will cast aluminum lithium to support the global Alcoa aerospace supply chain.
Alcoa`s aerospace business comprises 4 units with operations across the world totaling approximately $3.4 billion in annual revenues and #1 share positions in their markets: Alcoa Global Rolled Products and Alcoa Forgings and Extrusions serving the structures market; and Alcoa Fastening Systems and Alcoa Power and Propulsion. Alcoa`s aerospace solutions run from nose to tail and from wing-tip to wing-tip. Alcoa has been at the forefront of every major milestone in aerospace history based on its commitment to continually innovate and a "beyond materials" philosophy - where materials, structures, and designs work in concert to provide optimal solutions for customers.
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