U.K.-based Firth Rixson, a supplier of highly engineered forged and specialty metal products for the aerospace industry, signed a new long-term purchasing agreement with Honeywell Aerospace. The agreement provides localized support to Honeywell sites from Firth Rixson's U.S. sites and its expanding eastern European presence. Spanning 10 years, Firth Rixson estimates the new agreement will encompass over $300 million in forging sales and is underpinned by new business that includes market-share gains in aerospace rolled rings.
The deal also strategically aligns the companies for future additional growth. According to Firth Rixson, the agreement achieves revenue stabilization for the company in an aerospace market segment that is of great importance to its strategic goals. It also enhances a robust business base in its Ring Division operating units.