Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Alcoa in Strategic Partnership With COMAC

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

On Monday, Alcoa (NYSE: AA  ) announced that its Alcoa Fastening Systems (AFS) subsidiary has signed a strategic technology and commercial cooperation agreement with Commercial Aircraft of China.

The Chinese company, commonly referred to by the acronym "COMAC," is the maker of one of the first of a new batch of homegrown commercial airliners in China -- the C919, sized to compete with Airbus' A320 and Boeing's (NYSE: BA  ) venerable 737. Alcoa says that by partnering with COMAC -- as it has already in the past -- "reinforces Alcoa's presence in one of the world's fastest-growing aerospace markets."

AFS President Vitaliy Rusakov characterized its relationship with COMAC as that of "a key partner ... in the development and production of its commercial C919 aircraft." In a statement, AFS clarified that it will provide the Chinese company "technical assistance in fastener and assembly tooling selection, joint design consideration, and quality system management," including assistance with "engineering, design, and training.

In return, it expects to sell COMAC a lot of fasteners for the new plane.

Alcoa shares, however, didn't respond as expected to the announcement, actually declining 1.4% to end the day at $8.90.

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2220261, ~/Articles/ArticleHandler.aspx, 9/25/2016 12:18:50 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2016 4:00 PM
AA $9.76 Down -0.02 -0.20%
Alcoa CAPS Rating: ***
BA $131.78 Down -0.09 -0.07%
Boeing CAPS Rating: ****