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Alcoa shares rise on $1bn Airbus deal

Mineweb | June 24, 2011 | 7:43 pm Base Metals Aluminum 

U.S. aluminum producer Alcoa Inc (AA.N: Quote) said on Friday it won a multiyear contract worth about $1 billion to supply its new, lighter aluminum-based alloys for Airbus commercial aircraft.

The news sent Alcoa stock up almost 1.8 percent to $15.55 in early trading on the New York Stock Exchange on a day when the broader market fell. Later in the morning, the shares were up 8 cents to $15.36.

Image of an Airbus aircraft, operated by DHL, by Wikimedia Commons

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