Arconic Signs $45Mln Deal To Boost Aluminum Output For US Missiles - Pentagon
Muhammad Irfan Published June 17, 2023 | 12:30 AM
WASHINGTON (UrduPoint News / Sputnik - 17th June, 2023) The US government has signed a $45.5 million contract with the Arconic Corporation to assure its supply chain sourcing of aluminum to make missiles and munitions, the Department of Defense announced in a press release on Friday.
"The Department of Defense's Office for the Assistant Secretary of Defense for Industrial Base Policy (OASD IBP) has entered into an agreement with Arconic Corporation to increase production of missiles and munitions," the release said.
The goal of the $45.5 million agreement with Arconic is to increase production of High Purity Aluminum (HPA) at its facility in Davenport, Iowa, the release explained.
"The low-cost production of HPA by foreign smelters has resulted in decreased production of HPA in the United States.� ...(Therefore)
The project will provide the United States much-needed surge capacity for HPA production and mitigate risks to national security in the event of an industrial mobilization," the release said.
Arconic will use its funding for the project to construct infrastructure at its facility to accommodate increased production capacity and new equipment, including a new furnace and new control and automation systems, the Defense Department said.
Related Topics
Recent Stories
US wants basic human rights for Imran Khan, all other prisoners
Hajj season begins: Karachi Airport Set for Inaugural Flight
IHC orders Jail officials to shift Bushra Bibi to Adiala Jail from Bani Gala
Projects of worth $25b being implemented in Pakistan under CPEC framework: Ahsan
Saudi investors evince special interest in diverse fields
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 8 May 2024
Today Gold Rate in Pakistan 08 May 2024
Delegation of international investors meets Finance Minister
Federal Govt stands with Balochistan for its development: Naqvi
UAE President receives condolences of Prime Minister of Pakistan over passing of ..
ECC approves to enhance wheat procurement targets
UN urges Israel to 'stop escalation' as tanks enter Gaza's Rafah city
More Stories From World
-
F-16 jet crashes in Singapore
25 minutes ago -
Pakistan to continue facilitating Sikh community's visits to their religious places: Masood khan
25 minutes ago -
Riyadh Season signs strategic partnership with MMA
25 minutes ago -
Asian markets mixed as traders weigh rates outlook
25 minutes ago -
Tokyo shares end down on profit-taking
26 minutes ago -
GACA President meets with Belarusian Deputy Minister of Transport and Communications
26 minutes ago
-
Japanese auto giant Toyota posts record net profit
35 minutes ago -
Mediator Qatar urges international community to prevent Rafah 'genocide'
46 minutes ago -
N. Macedonia polls set to upend ties with EU neighbours
55 minutes ago -
Kenya sanctuaries toil to save birds of prey from extinction
55 minutes ago -
China completes 4-tier disaster risk evaluation via national survey
56 minutes ago -
Saudi International Furniture and Decor exhibition launches in Jeddah
1 hour ago