Alcoa in $1 bn Airbus deal for aerospace fasteners

US metals giant Alcoa said Monday it had won a contract with European aircraft maker Airbus to supply about $1 billion worth of multi-material fastening systems.

Alcoa said it was the largest contract for aerospace fasteners in its history, and covers advanced fastening systems used for aircraft panels and engine pylons.

The fasteners are made of a range of metals, including titanium, steel and nickel-based superalloys designed to protect from lightning strikes and improve the ability to withstand wear and tear.

The contract strengthens its position on Airbus platforms, including the new A350 wide-body plane and the A320neo, and the European firm's long-running A330 line, the company said.

"Alcoa is proud to partner with Airbus to provide breakthrough technologies for some of the most advanced aircraft in the world," said chief executive Klaus Kleinfeld.

Alcoa last week announced it was splitting into two companies, an aluminum and primary metals upstream business and a value-add company oriented towards higher-profit businesses needing advanced technologies and materials, including aerospace.

Alcoa shares rose 1.7 percent to $9.68 in pre-market trade.