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.
Alcoa rallies with Freeport-McMoRan, materials sector Shares are up over 5% to $9.33 at time of writing, putting it above downtrend resistance at the 10-day moving average. At that price next resistance is at $9.51. Support is at $9.19.