Metals manufacturer Alcoa has completed its acquisition of titanium casting company TITAL as part of its expansion into the engine components market.
Germany-based TITAL manufactures components for jet engines and airframe structures, with its customers including Rolls-Royce and Airbus.
TITAL’s revenues are forecast to grow by 70 per cent over the next five years as a result of increased demand from the commercial aircraft sector.
The value of the deal is undisclosed but is expected to go through in Q1 2015.
The TITAL deal follows Alcoa’s acquisition of UK components supplier Firth Rixson for $3bn last month.