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Alcoa Inks Supply Deal with Airbus and Hints at New Business Model

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According to Reuters, Alcoa Inc (NYSE:AA) has inked a long term supply deal with Airbus valued at $110 million. As part of the deal, Alcoa will supply Airbus with titanium and aluminum in the production of aircrafts. Alcoa will produce the titanium and aluminum forgings in their Cleveland facility. Alcoa has been struggling lately as a result of weakness in aluminum prices. However, this deal shows that Alcoa is shifting towards more processed products for industries than selling the metals at standalone basis.