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Thursday, September 11, 2014

Alcoa signs Boeing deal worth more than $1 billion, (NYSE: AA), (NYSE: BA)

Alcoa Inc has signed a long-term contract to supply planemaker Boeing Co with aluminum sheet and plate that is worth more than $1 billion, the metals company said on Thursday.The new contract is the largest ever between the two companies, said Alcoa, a longtime Boeing supplier. It did not disclose a precise value or time frame for the deal.Alcoa has been expanding its aerospace business and announced a $2.85 billion deal in June to purchase jet engine part maker Firth Rixson.Although it helped create the modern aluminum industry more than a century ago, Alcoa is eager to produce higher-margin, specialized parts for aerospace and automotive customers, even if they contain other metals or no aluminum at all.

Alcoa Inc. (Alcoa) is engaged in lightweight metals, products and solutions. Shares of AA fell by 1.74% or $-0.3/share to $16.90. In the past year, the shares have traded as low as $7.82 and as high as $17.36. On average, 14823800 shares of AA exchange hands on a given day and today's volume is recorded at 16994492.

The Boeing Company (Boeing) is an aerospace company. Shares of BA fell by 0.45% or $-0.58/share to $127.64. In the past year, the shares have traded as low as $107.80 and as high as $144.57. On average, 4366250 shares of BA exchange hands on a given day and today's volume is recorded at 1988187.



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