NEW YORK--(BUSINESS WIRE)--Global technology, engineering and advanced manufacturing leader Arconic (NYSE:ARNC) today announced a multi-year supply deal with Toyota North America. Arconic is supplying aluminum to Toyota for its all-new Lexus RX. The vehicle debuted last year and became Toyota’s first vehicle in North America to prominently feature aluminum exterior panels.
“Automakers worldwide are turning to aluminum for the stronger, tougher, higher performing vehicles that consumers demand,” said Mark Vrablec, President of Arconic’s Aerospace & Automotive Products business. “Many bestselling vehicles in America have already converted to aluminum for improved performance, including better fuel efficiency, more towing and payload capacity, and improved vehicle safety scores. This trend will continue. We are proud to expand our relationship with Toyota.”
This makes Arconic the sole aluminum sheet supplier to Toyota for the Lexus RX, named by Consumer Reports as the Best Luxury SUV of 2016.
The Arconic and Toyota deal draws on the strong automotive expertise and manufacturing capability of Arconic’s Global Rolled Products business. Arconic will supply Toyota from its plants in Davenport, Iowa, and Danville, Illinois.
Arconic is a premier partner to the high-growth automotive industry with operations in Davenport, Iowa, and Alcoa, Tennessee and breakthrough technologies like the Arconic Micromill™ in San Antonio, Texas.
The Company estimates that it will grow its automotive sheet revenue from $76 million in 2010 to $1.3 billion in 2018, and across Arconic’s full automotive portfolio, 98 percent of Arconic revenues come from products where it is number one or number two in its segment.
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Arconic (NYSE: ARNC) creates breakthrough products that shape industries. Working in close partnership with our customers, we solve complex engineering challenges to transform the way we fly, drive, build and power. Through the ingenuity of our people and cutting-edge advanced manufacturing techniques, we deliver these products at a quality and efficiency that ensure customer success and shareholder value. For more information: www.arconic.com. Follow @arconic: Twitter, Instagram, Facebook, LinkedIn and YouTube.
This release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as “anticipates,” “estimates,” “expects,” “may,” “plans,” “projects,” “should,” “will,” “would,” or other words of similar meaning. All statements that reflect Arconic’s expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, projections of competitive position, market share, growth opportunities, revenues or other financial items of Arconic; and projections regarding the growth of Arconic’s automotive sheet revenue and the automotive and other end markets. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Although Arconic believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Such risks and uncertainties include, but are not limited to: (a) deterioration in global economic and financial market conditions generally; (b) unfavorable changes in the markets served by Arconic, including the automotive market; and (c) the other risk factors discussed in Arconic’s Form 10-K for the year ended December 31, 2016, and other reports filed with the U.S. Securities and Exchange Commission. Arconic disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law. Market projections are subject to the risks discussed above and other risks in the market.