May 29 Alcoa Inc, the biggest U.S.
aluminum producer, said it started work on a $100 million plant
in Indiana to meet rising demand from large commercial aircraft
The plant, expected to be completed by the end of 2015, will
make nickel-based super alloy jet engine parts for large
commercial aircraft, including wide-body and military airplanes,
the company said.
The new plant will create 329 jobs by 2019 and increase the
company's capacity to supply engine parts for narrow-body
aircraft, Alcoa said.
"Aerospace growth is soaring and Alcoa is ramping up
downstream capabilities to capture that demand," Alcoa Chief
Executive Klaus Kleinfeld said in a statement.
Alcoa in April raised its 2014 growth forecast for the
global aerospace market to 8-9 percent from the 7-8 percent it
forecast in January.
The company's aerospace business, which had revenue of about
$4 billion in 2013, counts Boeing Co and Airbus group NV
among its customers.
(Reporting by Rohit T. K. in Bangalore; Editing by Don