Alcoa Signs Long Term Contract Worth $470 Mln With Embraer Jets

(RTTNews) - Alcoa Inc. (AA) Thursday said it signed a long-term contract with jet airline maker Embraer valued at approximately $470 million. As per the agreement, Alcoa will supply aluminum sheet and plate for Embraer's new E2s, the second generation of its E-Jets family of commercial aircraft, a narrow-body medium-range jet airliner. The Embraer E-Jets E2 are scheduled to enter into service in 2018. Embraer noted that they chose Alcoa's proprietary alloys for the E2 due to the combination of strength, corrosion resistance and fatigue resistance that they offer. Alcoa would be the sole supplier to Embraer for proprietary wing skins and fuselage sheet on the E2 line of jets. It will also provide wing ribs, fuselage frames and other structural parts.