| Alcoa Inks $1B Contract with Airbus for Fastening Systems | |
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Alcoa Inc. AA has inked a roughly $1 billion contract with Airbus Group for multi-material aerospace fastening systems. The deal is the aluminum giant's largest fastener contract ever with Airbus.
Under the deal, Alcoa will supply advanced fastening systems, which augment the assembly of aircraft panels and engine pylons on newer airplanes with sophisticated design features. Alcoa’s fasteners are made using a number of materials which include stainless steel, titanium and nickel-based superalloys, which improve fatigue life, provide lightning strike protection, and enhance wear and reusability on traditional and composite aircraft. Alcoa will produce these fastening systems at fourteen of its global manufacturing plants.
Fasteners provided by Alcoa will be utilized to assemble some of Airbus’s latest high-growth airplanes, including the A350 XWB, Airbus’ newest commercial airplane, and the A320neo. Further, Airbus will also use the fastening systems for longer-running platforms including the A330.
Alcoa and Airbus have been collaborating for a decade now and this time Alcoa will provide Airbus with breakthrough technologies for some of the most advanced aircrafts in the world.
Alcoa’s shares jumped around 9.4% on the news to close at $10.41 yesterday.
Last week, Alcoa announced that it is splitting into two independent, publicly-traded companies in a bid to drive growth amid a challenging operating backdrop. The transaction, which is subject to specific conditions including final approval by Alcoa’s board, is expected to close in second-half 2016.
The separation will result in the creation of two standalone, Fortune 500 entities: “The Upstream Company” and “The Value-Add Company.” The Upstream Company will consist of bauxite, alumina, aluminum, casting and energy business units. The Value-Add Company will include global rolled products, engineered products and solutions, and transportation and construction solutions businesses.
Alcoa currently holds a Zacks Rank #5 (Strong Sell). Some better-ranked mining companies include Asanko Gold Inc. AKG, Endeavour Silver Corp. EXK and Primero Mining Corp. PPP, all carrying a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ALCOA INC (AA): Free Stock Analysis Report PRIMERO MINING (PPP): Free Stock Analysis Report ASANKO GOLD INC (AKG): Free Stock Analysis Report ENDEAVOUR SILVR (EXK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Asanko Gold Inc.
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CODE : AKG.TO |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Asanko Gold is a exploration company based in Canada. Asanko Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 325.5 millions as of today (US$ 231.0 millions, € 211.7 millions). Its stock quote reached its highest recent level on September 16, 2011 at CA$ 9.59, and its lowest recent point on December 15, 2017 at CA$ 0.55. Asanko Gold has 203 450 000 shares outstanding. |