Alcoa Fastening Systems Enters Strategic Partnership with COMAC
Alcoa Fastening Systems Enters Strategic Partnership with COMAC
NEW YORK & TORRANCE, Calif.--(BUSINESS WIRE)-- Alcoa Fastening Systems (AFS), a unit of Alcoa (NYS: AA) , today announced it has signed a strategic technology and commercial cooperation agreement with Commercial Aircraft of China, Ltd (COMAC). This agreement deepens Alcoa's existing partnership with COMAC, the main manufacturer of large passenger aircraft programs in China, and reinforces Alcoa's presence in one of the world's fastest growing aerospace markets.
"This agreement establishes Alcoa Fastening Systems as a key partner with COMAC in the development and production of its commercial C919 aircraft," said AFS President Vitaliy Rusakov. "Since 2005, with the inception of our manufacturing operations in Suzhou and our distribution facility in Waigaoqiao, we have anticipated and supported the needs of the growing Chinese aerospace market. We value our relationship and look forward to developing our long-term partnership with COMAC."
AFS will provide COMAC with technical assistance in fastener and assembly tooling selection, joint design consideration and quality system management. The technical assistance will include engineering, design and training. In return, COMAC will purchase a significant percentage of its fasteners from AFS for the initial production of the C919 aircraft.
Alcoa established a technology cooperation agreement with COMAC in 2009 examining advanced aluminum structural concepts, designs and alloys for the C919 aircraft.
Alcoa Fastening Systems is a leading worldwide designer and manufacturer of fastening systems including specialty fasteners, fluid fittings, assembly components, and installation systems for aerospace and industrial applications. Headquartered in Torrance, California, the company has over 6,800 employees at 32 manufacturing and distribution/logistics locations in 11 countries.
About Alcoa
Alcoa is the world's leading producer of primary and fabricated aluminum, as well as the world's largest miner of bauxite and refiner of alumina. In addition to inventing the modern-day aluminum industry, Alcoa innovation has been behind major milestones in the aerospace, automotive, packaging, building and construction, commercial transportation, consumer electronics and industrial markets over the past 125 years. Among the solutions Alcoa markets are flat-rolled products, hard alloy extrusions, and forgings, as well as Alcoa® wheels, fastening systems, precision and investment castings, and building systems in addition to its expertise in other light metals such as titanium and nickel-based super alloys. Sustainability is an integral part of Alcoa's operating practices and the product design and engineering it provides to customers. Alcoa has been a member of the Dow Jones Sustainability Index for 11 consecutive years and approximately 75 percent of all of the aluminum ever produced since 1888 is still in active use today. Alcoa employs approximately 61,000 people in 30 countries across the world. For more information, visit www.alcoa.com and follow @Alcoa on Twitter at twitter.com/Alcoa.
Investor Contact:
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Kelly Pasterick, 212-836-2674
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Media Contacts:
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Monica Orbe, 212-836-2632
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Anne Brown, 714-449-4374
KEYWORDS: United States Asia Pacific North America China California New York Pennsylvania
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