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UPDATE 1-Alcoa gets $1.5 bln supply contract from GE's aviation unit

Published 2016-01-11, 07:43 a/m
© Reuters. UPDATE 1-Alcoa gets $1.5 bln supply contract from GE's aviation unit
AA
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GE
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(Changes sourcing to Alcoa )
Jan 11 (Reuters) - Alcoa Inc (N:AA) AA.N said on Monday it had
signed a $1.5 billion long-term contract with General Electric (N:GE)
Co's GE.N aviation unit to supply components used in aircraft
engines.
The aluminum producer will provide advanced nickel-based
superalloy, titanium and aluminum components for engines and
parts made by GE.
The company did not specify the period covered by the
contract, which was first reported by the Wall Street Journal.
Alcoa said it would make the parts in six U.S. states as
well as in France and Canada.
Alcoa, which reports fourth-quarter results later on Monday,
said in September it would break itself in two, separating its
faster-growing aircraft and car parts business from its
traditional smelting operations as shareholders seek higher
returns amid a slump in metal prices.
The company said last week it would close its 269,000
tonne-per-year Warrick smelter in Evansville, Indiana - the
largest operating smelter in the United States.
The closure will leave Alcoa with just one active U.S.
smelter, the 130,000 tonne-per-year Massena West plant in New
York state.

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