NEW YORK (AP) — Alcoa Inc. has reached a multi-year deal to supply Airbus with aluminum sheet and plate products, the company said Friday.
The agreement was brokered this week at the Paris Air Show. Specific financial terms were not disclosed, but the deal has a value of about $1 billion over its life, Alcoa said.
Alcoa said its products will be used in nearly all Airbus commercial aircraft programs and will be used in fuselage panels, structural components and wing skins. The Alcoa flat rolled products will be supplied from the company's plants in Davenport, Iowa, the United Kingdom and Russia.
Alcoa shares rose 11 cents to $15.39 in premarket trading.