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

Published 2016-01-11, 01:27 a/m
© Reuters. Alcoa gets $1.5 bln supply contract from GE's aviation unit -WSJ
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Jan 11 (Reuters) - Alcoa Inc (N:AA) AA.N has won a $1.5 billion
long-term contract from General Electric (N:GE)'s GE.N aviation unit
to supply vital components used in making aircraft engines, the
Wall Street Journal reported.
The deal, which will be announced along with Alcoa's
quarterly results on Monday, will allow the aluminum producer to
supply advanced nickel-based superalloy, titanium and aluminum
components for engines and parts made by GE, the paper said,
citing a GE news release it viewed. (http://on.wsj.com/1PYYjhA)
Alcoa will make the parts in six U.S. states, as well as in
France and Canada, the WSJ reported.
Aluminum production business appears no longer viable in the
United States despite U.S. car and plane makers buying more
aluminum than ever.
Last week, Alcoa announced plans to close its 269,000
tonne-per-year Warrick smelter, the largest operating smelter in
the United States currently, as "these assets are not
competitive" amid "challenging market conditions."
Closure of Warrick smelter will reduce annual U.S.
production of aluminum to around 720,000 tonnes, the lowest
since at least 1950, according to the U.S. Geological Survey.
Alcoa and GE could not be immediately reached for comment
outside regular business hours.

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