Alcoa announced yesterday a 10-year, $1.1 billion agreement with Pratt & Whitney, a division of United Technologies Corp., for state-of-the-art jet engine components. Under the deal signed at the Farnborough Air Show, Alcoa will supply parts for Pratt & Whitney’s engines, including the forging for the first ever aluminum fan blade for jet engines. The forging was developed for Pratt & Whitney’s PurePower engines using an advanced aluminum alloy and a proprietary manufacturing process. Also for the PurePower engines, Alcoa is developing a fan blade forging using its most advanced aluminum-lithium alloy.
“We’re going where no materials scientist has gone before,” said Alcoa Chairman and Chief Executive Officer, Klaus Kleinfeld. “Combining Alcoa’s proprietary alloys and unique manufacturing processes with Pratt & Whitney’s design, we cracked the code on forging an aluminum fan blade that is lighter and enables better fuel efficiency. Through this exciting new 10-year deal, Alcoa will deliver not only aluminum fan blade forgings but also a range of other advanced product forms, from blades and vanes to structural castings, for some of Pratt and Whitney’s best-selling engines.”
Under the $1.1 billion deal, Alcoa will supply components for Pratt & Whitney’s PurePower PW1000G, V2500, GP7000 and several other regional jet and military engines.
The aluminum 3-month price saw the biggest upwards shift for the day, rising 1.1 percent on the LME to close at $1,932 per metric ton on Monday, July 14. At $1,906, the primary aluminum cash price finished the market day on the LME up 1.1 percent per metric ton. The Indian aluminum cash price gained 0.5 percent to finish at INR 117.50 ($1.96) per kilogram.
Chinese aluminum prices closed flat for the day. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining around CNY 12,250 ($1,974) per metric ton. The price of Chinese aluminum billet was unchanged at CNY 13,590 ($2,190) per metric ton. For the fifth consecutive day, the price of Chinese aluminum bar held flat at CNY 14,200 ($2,289) per metric ton. The cash price of Chinese aluminum saw little movement at CNY 13,410 ($2,161) per metric ton.