Alcoa to buy aerospace company Firth Rixson

June 26 Thu Jun 26, 2014 7:09am EDT

June 26 (Reuters) - Alcoa Inc has agreed to acquire aircraft parts maker Firth Rixson from private equity firm Oak Hill Capital Partners for $2.85 billion in cash and stock, the company said on Thursday.

The deal will grow Alcoa's aerospace segment, and boost the aluminum giant's production of nickel and titanium goods. (Reporting by Allison Martell)