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Alcoa Signs $2.5 Billion Supply Contract with Boeing for Fasteners and Titanium Seat Track Assemblies

Lightweight metals leader Alcoa has announced long-term supply contracts with Boeing valued at over $2.5 billion. Alcoa will supply multi-material fastening systems for every Boeing platform in its largest fastener deal ever. Alcoa also will supply ready-to-install titanium seat track assemblies for the entire 787 Dreamliner family.

"Alcoa has positioned itself to win in a multi-material aerospace industry, and these deals are the latest proof points that our strategy is working," said Alcoa Chairman and Chief Executive Officer Klaus Kleinfeld. "We are proud to partner with Boeing as it delivers sophisticated airplanes to meet the world's increasing demand for air travel."

Under one contract, Alcoa Fastening Systems & Rings will supply advanced titanium, stainless steel, alloy steel, aluminum and nickel-based superalloy fastening systems for every Boeing platform, including the 777X -- Boeing's newest commercial airplane; the 737 MAX -- scheduled for first delivery in 2017; and the 787 Dreamliner. Alcoa will produce these fastening systems at seven of its global manufacturing facilities.

Alcoa also announced a second agreement under which it is the sole supplier of ready-to-install titanium seat track assemblies for all three members of the 787 Dreamliner family of airplanes. RTI International Metals (RTI) -- now known as Alcoa Titanium & Engineered Products (ATEP) -- has provided seat tracks for the 787-9 and 787-8 variants under a contract signed in 2007. This contract, as amended by RTI and Boeing immediately prior to the acquisition, reinforces ATEP's position on those variants and adds seat tracks for the 787-10.

Seat tracks are critical structural assemblies that mount to the floor of the airplane, secure passenger seats and reinforce the structure of the fuselage. Titanium seat tracks are stronger, weigh less and offer superior corrosion resistance compared with traditional materials.

These contracts build on last year's deal with Boeing for flat-rolled aluminum sheet and plate products, valued at more than $1 billion. That agreement established Alcoa as a sole supplier to Boeing for wing skins on all of its metallic structure airplanes. Alcoa plate products, used in applications such as wing ribs, wing skins or other structural parts of the aircraft, are used on every Boeing platform, including the 787. The agreement also established deeper collaboration on new, high-strength and corrosion-resistant alloys, including aluminum-lithium.

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