FLASH: Alcoa Wins $1 Billion Deal With Airbus

U.S. aluminum producer Alcoa Inc said Friday it won a multiyear contract worth about $1 billion to supply its new, lighter aluminum-based alloys for Airbus commercial aircraft.

The news sent Alcoa stock up almost 1.8 percent to $15.55 in early trading on the New York Stock Exchange on a day when the broader market fell. Later in the morning, the shares were up 8 cents to $15.36.

Alcoa said the deal with the European planemaker unit of EADS calls for Alcoa to provide aluminum sheet and plate using current and advanced-generation aluminum alloys, which are lighter and stronger than traditional metals and composites.

Read more: http://www.foxbusiness.com/industries/2011/06/24/alcoa-wins-1-billion-deal-with-airbus/#ixzz1QDM0zWRP