Dec 16 Alcoa Inc has signed a long-term
deal worth about $110 million to supply titanium and aluminum
parts to planemaker Airbus from its recently overhauled
facility in Cleveland.
Hit hard by weak aluminum prices, Alcoa has touted the
growth of its engineered products business, which sells goods
like aircraft parts and has proved more profitable in recent
quarters than selling less-processed metal at rock-bottom
The Cleveland plant will supply forgings to connect Airbus'
A320neo single-aisle jet's wing structure to its engine, among
other products. Detailed terms of the deal were not disclosed.
Aerospace is a key market for producers of aluminum, a metal
that is light relative to its strength. Alcoa has forecast the
sector will grow 9 percent to 10 percent worldwide in 2013.