INDUSTRY news
Alcoa to Acquire TITAL, Expand in Aerospace
Alcoa, New York, plans to further expand its global aerospace busi- ness through a definitive agreement to acquire privately held TITAL, Bestwig, Germany. The acquisition will strengthen Alcoa’s global posi- tion to capture increasing demand for advanced jet engine components made of titanium. TITAL produces titanium and aluminum structural castings for aircraft engines and airframes. Lightweight titanium can withstand extreme high heat and pressure, providing energy efficiency and performance. These engines are used on large commercial aircraft. TITAL employs more than 650
people, primarily in Bestwig, Germany. Alcoa projects a compounded an- nual commercial jet growth rate of
7% through 2019 and sees a current nine-year production order book at 2013 delivery rates. Almost 70% of TITAL’s revenues are expected to come from commercial aerospace in 2019. In 2013, the company gener- ated revenues of approximately $96 million, more than half of which came from titanium products. The acquisition will establish titanium casting capabilities in Europe for Alcoa while expanding its aluminum casting capacity. The transaction is expected to close in the first quarter of 2015.
Alcoa operates several casting fa- cilities in North America under the Alcoa-Howmet brand in Ontario and Quebec, Canada, New Jersey, Virginia, Indiana, Michigan and Texas.
Fiat Chrysler Invests $266M in Kokomo Plant Fiat Chrysler Automobiles (FCA)
U.S. has offi cially confi rmed a $266 mil- lion investment in the Kokomo Trans- mission Plant in Indiana. T is is the sixth time that FCA has invested in its Kokomo Transmission Plant since June of 2009. T ose six investments together total nearly $1.8 billion. T is most recent investment in the Kokomo plant is to increase capacity of the TorqueFlite eight-speed automatic transmission. Fiat also operates diecasting plant
Kokomo Casting, in Kokomo. In 2013, Kokomo put out about 300,000 eight-speeds. Compare that to the fi rst 11 months of 2014, when the plant has more than doubled its output of the eight-speed, at almost 700,000. TorqueFlite transmissions are available on the Chrysler 300; the Dodge Chal- lenger, Charger, and Durango; the Jeep Grand Cherokee; and the Ram 1500.
Castings
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6 | METAL CASTING DESIGN & PURCHASING | Jan/Feb 2015
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