Boston, MA 06/06/2014 (wallstreetpr) – Alcoa Inc (NYSE:AA) will expand its operations in Indiana to take the benefits of growing Aerospace demand. The sector of advanced jet engine parts is gaining momentum in Indiana. The company will target the large commercial jet engine market. It will set up a new $100 million facility in order to meet the demand. The new facility will have the state-of-the-art facilities. The latest and most advanced technologies will be used to manufacture the products. The setup of a new facility will generate more than 329 jobs by year 2019.
The new facility
It is a dream project of Alcoa Inc (NYSE:AA) to set the new state-of-the-art facility in La Porte, Indiana. The $100 million aerospace expansion project will manufacture nickel based super alloy aerospace parts. The facility will be built on the large area of 320,000 square foot. Previously, Alcoa can manufacture the different products to meet the varying needs of sectors as commercial aircraft, military airplanes, business and regional jets. The new plant will be ready by the fourth quarter of 2015.
Narrow body air-crafts
The largest demand comes for the narrow body aircrafts. They are the one of the most top selling jet engines in the world. It is the reason Alcoa Inc (NYSE:AA)’s new facility will focus on manufacturing the narrow body aircrafts. The company can manufacture the parts that are nearly 60% larger than the parts it develops today. It will further help it to meet the demand of wide-body airplanes.
The growth in Aerospace
Aerospace sector is growing. It had a tough time some years back but now growth is returning back in the sector. It is the good news for Alcoa Inc (NYSE:AA). It will focus on its downstream capabilities to cash on the opportunities. The company has got the best human power and the best resources that will help it to meet the high volume demand of the sector.
