(By Balachander) Alcoa Inc.'s (NYSE: AA) Fastening Systems unit has announced a technology and commercial cooperation agreement with Commercial Aircraft of China Ltd (COMAC).
Under the agreement, Alcoa Fastening Systems (AFS), will provide COMAC with technical assistance in fastener and assembly tooling selection, joint design consideration and quality system management.
In addition, COMAC will acquire a significant percentage of its fasteners from AFS for the initial production of the C919 aircraft.
"This agreement establishes Alcoa Fastening Systems as a key partner with COMAC in the development and production of its commercial C919 aircraft," said AFS President Vitaliy Rusakov.
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COMAC is engaged in the manufacture of large passenger aircraft programs in China.
Alcoa, the producer of primary and fabricated aluminum, established a technology cooperation agreement with COMAC in 2009 examining advanced aluminum structural concepts, designs and alloys for the C919 aircraft.
On Monday, AA shares fell 1.22 percent to trade at $8.92.