Alcoa (NYSE:AA) today announced it has been awarded a new multi-year supply agreement with Airbus for aluminum sheet and plate products utilizing Alcoa's current and advanced-generation aluminum alloys. The agreement was reached this week at the Paris Air Show by executives of both companies. Terms were not disclosed, but the agreement has a value of approximately US$1.0 billion over its life.

Alcoa's leading aluminum solutions will be used across virtually all Airbus commercial aircraft programs, from short-range/single-aisle to long-haul/twin-aisle jets including the A380 and range from fuselage panels to structural components to Airbus' newest wing skins. The Alcoa flat rolled products will be supplied from the Company's plants in Davenport, Iowa in the U.S., Kitts Green in the U.K., and Belaya Kalitva in Russia.

Earlier this month Alcoa launched a number of new aerospace solutions including new proprietary alloys and advanced structural technologies that will lower the weight, cost and maintenance of new aircraft, compared to composites.