Alcoa Signs LoI For Technology Licensing Agreement With Danieli

(RTTNews) - Alcoa (AA) announced it will commercialize its breakthrough Micromill technology, working with the Danieli Group, a global supplier of plants and equipment to the metals industry. Danieli will license Alcoa's intellectual property associated with manufacturing advanced Micromill products.

Under the letter of intent, Alcoa and Danieli will work toward an agreement to sell Micromill equipment and license the patented Micromill technology. As part of the collaboration, Alcoa will grant Danieli exclusive rights to sell Micromill equipment for a limited period of time. In addition, the companies will work together to license the Micromill alloys and process technology to potential customers around the world, initially targeting Europe, South America, and Southeast Asia.

Specific terms of the letter of intent with Danieli were not disclosed.

In a separate press release, Alcoa and Ford Motor Company said that the automaker has selected Micromill material to be used on its 2016 Ford F-150 truck.