Alcoa Signs Supply Agreement with Boeing

Alcoa Inc. (NYSE:AA) announced a long-term multi-material aerospace parts supply agreement with Boeing Co. (NYSE:BA).
As quoted in the press release:

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.

Klaus Kleinfeld, chairman and CEO of Alcoa, commented:

This is the latest in a series of Boeing contract wins made possible by Alcoa’s recent aerospace investments. 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.

Click here to read the full Alcoa Inc. (NYSE:AA) press release.