Alcoa Reports Long-Term Contract Worth Over $1.5 Bln With GE Aviation

(RTTNews) - Aluminum maker Alcoa (AA) Monday said it has signed a long-term contract with General Electric's unit 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 said it would employ advanced manufacturing capabilities to produce the parts across several facilities including LaPorte, Indiana; Whitehall, Michigan; Hampton, Virginia; Dover, New Jersey; Wichita Falls, Texas; Winsted, Connecticut; Dives, France; and Laval, Canada.

Alcoa secured around $9 billion in aerospace supply contracts in 2015, including this transaction.