Alcoa Inc. has reported that it has landed contracts with Boeing Co. worth USD $2.5 billion to supply fasteners and seat tracks for the aircraft maker’s passenger planes.
Chicago-based Boeing will buy titanium, stainless steel and various alloy fastening systems for all its airliner platforms, said Alcoa, which will manufacture the products at seven factories around the globe.
The agreements, which Alcoa said included its largest-ever contract for aerospace fasteners, are part of the company’s strategy to boost profits by expanding its business with aircraft makers. They also work toward the company’s plans to separate its fast-growing components business from its traditional mining and smelting operations.