Alcoa Inc plans to invest $25 million at its power and propulsion facility in Hampton, Virginia, to start production of lighter-weight jet engine blades and meet growing demand from the aerospace sector, it said on Tuesday. As part of a project starting this month and lasting until the fourth quarter of next year, the company will add equipment for a new production line and modify existing machinery to produce the blades for next-generation aircraft engines, it said.
Alcoa Inc. (Alcoa) is engaged in lightweight metals, products and solutions. Shares of AA traded higher by 0.1% or $0.0138/share to $14.36. In the past year, the shares have traded as low as $7.63 and as high as $14.58. On average, 19144600 shares of AA exchange hands on a given day and today's volume is recorded at 2649918.
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