The metals engineering and manufacturing company will supply parts for three Boeing airplanes, including the company's newest commercial airplane, Alcoa said in a statement on Thursday.
The new contract is the fourth multi-year agreement with Boeing, the company added. The terms of the deal were not disclosed.
"This is the latest in a series of Boeing contract wins made possible by Alcoa's recent aerospace investments," Alcoa CEO Klaus Kleinfeld said in a statement. "Alcoa has successfully built a strong leadership position in this market and we are proud to see our home-grown innovations and new products create value for our customers."
Since the beginning of 2015, Alcoa has secured about $10 billion in aerospace contracts.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "hold" with a ratings score of C-. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.
You can view the full analysis from the report here: AA