Alcoa has signed a long-term supply agreement with aircraft manufacturer Boeing for multi-material aerospace parts, the US lightweight metals producer said Thursday, unveiling the latest in a series of multi-year agreements between the two companies.
Under the 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," Alcoa said.
Alcoa completed the acquisition of UK-based aerospace component manufacturer Firth Rixson in November 2014 in a deal worth $2.85 billion in cash and stock.
Under the new agreement, Alcoa Forgings and Extrusions will supply differentiated components for Boeing's aircraft, including the wing, fuselage, and landing gear.
The transaction was the fourth multi-year agreement Alcoa has recently announced with Boeing.
In December, Alcoa announced long-term supply contracts with Boeing for fastening systems and titanium seat track assemblies, and in September 2014, it announced a new contract which established Alcoa as a sole supplier of wing skins on all of Boeing's metallic structure airplanes.
Alcoa said it has secured approximately $10 billion in aerospace contracts since the start of 2015, including the Boeing transactions.
