Lightweight metals components producer Alcoa has signed a long-term contract with GE Aviation for jet engine components in an agreement valued at more than $1.5 billion over the contract life. Under the deal, Alcoa will supply advanced nickel-based superalloy, titanium and aluminum components for a broad range of GE Aviation engine programs.
Alcoa will employ advanced manufacturing capabilities to produce the parts across several facilities including its location in Winsted. Alcoa secured approximately $9 billion in aerospace supply contracts in 2015, including this transaction.
According to a statement, Alcoa’s aerospace businesses will form part of the new Value-Add Company, to be launched following Alcoa’s previously announced separation in the second half of 2016. The Value-Add Company will be a differentiated supplier to the high-growth aerospace industry with positions on every major aircraft and jet engine platform, underpinned by market leadership in jet engine and industrial gas turbine airfoils, and aerospace fasteners.
