Firth Rixson Signs $1B Deal to Manufacture Boeing and Airbus Airplane Parts

British firm, Firth Rixson, has signed a 10-year deal with U.S. based United Technologies Corporation to manufacture airplane engine and landing parts, including for the Boeing 787 and Airbus A320. The deal is worth $1 billion (£580 million).

Firth Rixson said the deal would benefit 11 of its 12 factories in the UK, North America and China. The company also indicated that new jobs would be created in light of the new deal. It currently employs 2,400 people.

David Mortimer, CEO at Firth Rixson said: “UTC demands high standards for quality, delivery, cost and performance. We are delighted to have gained their customer confidence and secured Firth Rixson as a leading supplier in this globally competitive market.”

The agreement comes three weeks after Firth Rixson announced it was being sold to U.S. metals giant Alcoa in a deal worth $2.85 billion (£1.6 billion).