Alcoa Releases Confirms Long-Term Contract with GE Aviation For $1.5M Value Over Contract Life

Lightweight metals leader Alcoa (NYSE: AA) has signed a long-term contract with GE (NYSE: GE) unit GE Aviation for jet engine components in an agreement valued at more than $1.5 billion over the contract life. Under the deal, Alcoa will supply advanced nickel-based superalloy, titanium and aluminum components for a broad range of GE Aviation engine programs.

"We greatly appreciate GE's continued confidence in Alcoa's aerospace capabilities, and are proud to support its advanced jet engine programs through this agreement," said Alcoa Chairman and Chief Executive Officer Klaus Kleinfeld.

Alcoa will employ advanced manufacturing capabilities to produce the parts across several facilities including LaPorte, Indiana; Whitehall, Michigan; Hampton, Virginia; Dover, New Jersey; Wichita Falls, Texas; Winsted, Connecticut; Dives, France; and Laval, Canada.