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Metal manufacturer Alcoa (NYSE: AA), Pittsburgh, PA, has acquired aerospace jet engine manufacturer Firth Rixson, Sheffield, United Kingdom, for $2.8 billion.
With this acquisition, Alcoa’s revenues are expected to increase by $1.6 billion and to increase by $2 billion in revenues by 2019. Approximately 70 percent of this growth is secured by long-term agreements.
“This transaction is creating a more profitable future for Alcoa by delivering greater sustainable value for our customers, employees and shareholders,” said Alcoa CEO Klaus Kleinfeld.