Alcoa sees $100M jet engine part facility complete by 4Q15 Alcoa announced it broke ground on its $100M aerospace expansion in La Porte, Indiana where it will produce nickel-based superalloy jet engine parts. The plant will increase the company’s capacity to supply engines for narrow-body aircraft. It also will enable Alcoa to produce parts nearly 60% larger than components it makes today, expanding its market reach to wide-body airplanes. Construction of the plant is underway and is expected to be complete by the fourth quarter of 2015.
Aluminum prices decline on excess supply, Bloomberg says Aluminum prices have been under pressure as prices for the metal fell 9.4% in May in the largest monthly drop since October 2012, says Bloomberg. According to the Bloomberg report aluminum producers in China have been encouraged by cheap coal to operate their furnaces and may expand exports. Companies in the aluminum space include Alcoa (AA) and Century Aluminum (CENX). Reference Link