Austrian metals firm AMAG Austria Metall AG and German industrial supplier thyssenkrupp AG announced this week the six-month extension of their aerospace aluminium supply agreement.
The half-year extension will have AMAG continue to supply thyssenkrupp’s aerospace division with premium aluminium featuring a high recycled content. AMAG’s agreement with thyssenkrupp dates back to the former’s initial foray into aviation aluminium.
Patrick Marous, CEO of thyssenkrupp Aerospace, said in a press release that the agreement is an important part of its overall business.
“We are very pleased to have been able to conclude this contract as part of our long-term, strategic partnership with AMAG. In the current volatile market environment, it is our common goal to support our customers as a reliable partner. Long-term material supply is therefore an important part of our Materials as a Service strategy.”
AMAG supplies thyssenkrupp with sheet and plate aluminium to its various operations in almost two dozen countries. The specialty aluminium is utilized in nearly every part of thyssenkrupp’s products, including outer shells, structural parts, and seats that are supplied to major airliner production firms like Boeing and Airbus.
Victor Breguncci, AMAG Austria Metall AG’s Chief Sales Officer, said his firm was happy with the way the negotiations between the two parties were carried out.
“Once again, the respectful way in which we have dealt with each other during the pandemic has proven that long-term perspectives are at the forefront of our partnership with thyssenkrupp Aerospace. We are all the more pleased to be able to contribute to the upturn in the aviation industry with the conclusion of this agreement.”
Financial terms of the agreement were not disclosed by either firm.