Arconic Signs Multi-year Supply Contract With Boeing - Quick Facts

(RTTNews) - Technology and engineering company Arconic Inc. (ARNC) said it has signed a new long-term contract with Boeing Co. (BA) to supply aluminum sheet and plate for all models produced by Boeing Commercial Airplanes.

The multi-year contract, which extends and adds to the companies' 2014 contract, is the largest to date and will capture growth in the build rate increases of the Boeing 737 program, according to Arconic.

The new agreement builds on Arconic's collaboration with Boeing for wing skins on all of its metallic structure airplanes and includes polished fuselage skins and wing ribs.

In addition, Boeing has awarded Arconic new business for the supply of structural plate used on a variety of other applications, including wing ribs for carbon fiber platforms such as the 787 and 777X.

The deal draws on material produced by Arconic's Very Thick Plate Stretcher or VTPS, which began commercial production last year and is capable of stretching the thickest aluminum plate in the world, used to support composite wings.

Arconic noted that combined with its new horizontal heat treat furnace that is expected to begin qualifications in 2019, it will be able to offer expanded capabilities and capacity in thick plate products.