Author: Paul Ploumis
12 Sep 2014 Last updated at 03:33:01 GMT
CANTERBURY (Scrap Monster): World's leading aluminum producer, Alcoa Inc. has entered into a multi-year deal with Boeing towards supply of aluminum sheet and plate products. The contract is valued over $ 1 billion and is considered to be the largest ever deal entered between the two companies.

According to the contract, Alcoa will be the sole supplier of aluminum for wing skins on Boeing aircrafts. Every Boeing platform including 787 Dreamliner will make use of aluminum plate products supplied exclusively by Alcoa. The deal also agrees to continue the collaboration on high grade alloys such as aluminum-lithium which are extensively used in complex structural applications.

Earlier this year, Alcoa had tied up with Boeing in a joint effort to boost recycling of aluminum aerospace alloys. According to the deal, aluminum alloy scrap material from Boeing facilities including advanced alloys would be melted and recycled into new aerospace materials. The program aims to recycle around 8 million pounds of aluminum per year.

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.

Boeing is the world's leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft combined. Additionally, Boeing designs and manufactures rotorcraft, electronic and defense systems, missiles, satellites, launch vehicles and advanced information and communication systems.