Alcoa closed the transaction, which was announced on December 15, 2014, after receiving all of the required global regulatory approvals.

TITAL is a leading manufacturer of titanium and aluminium structural castings for aircraft engines and airframes. This acquisition strengthens Alcoa’s ability to capture growing demand for advanced aircraft engine components, in particular, those made of titanium. TITAL establishes titanium casting capabilities in Europe for Alcoa, and expands the Company’s aluminium casting capacity. Additionally, TITAL’s strong connections to European engine and aircraft manufacturers such as Airbus, SNECMA, and Rolls-Royce, will enhance Alcoa’s customer relationships in the region and beyond.

“We are combining two leading, innovation-driven businesses to continue increasing Alcoa’s highly differentiated content on the world’s best-selling airplanes and jet engines,” said Olivier Jarrault, Executive Vice President and Alcoa Group President, Engineered Products and Solutions. “This transaction supports our strategy of creating a more profitable future by growing our value-add businesses. Through these efforts, Alcoa will continue delivering greater sustainable value for our customers, employees and shareholders.”

Alcoa is implementing a robust integration plan to support TITAL’s growth and to further improve productivity, primarily driven by procurement, internal metal supply, manufacturing optimisation and leveraging Alcoa’s global shared services. TITAL’s business is being integrated into Alcoa’s Engineered Products and Solutions (EPS) segment.