On Tuesday, Shares of Alcoa Inc. (NYSE:AA), gained 1.61% to $12.62.
Alcoa, is investing $22 million in Hot Isostatic Pressing (HIP) technology at its facility in Whitehall, Michigan. The investment will enable Alcoa to capture growing demand for advanced titanium, nickel and 3D-printed parts for the world’s bestselling jet engines. Steep ramp-up rates for narrow- and wide-body aircraft engines—the top-selling jet engines in the world—are increasing Alcoa’s need for such capabilities.
HIP involves the simultaneous application of high pressure and temperatures to significantly improve the mechanical properties and quality of cast products, such as blades and structures for jet engines. In addition, the process enhances the density of 3D-printed parts made using powdered metals, improving product consistency, strength and lifespan. All titanium, 3D-printed and some nickel parts used for jet engines must be treated using the HIP process.
Alcoa already owns and operates one of the world’s largest HIP technology complexes for aerospace. This investment will expand Alcoa’s capabilities even further, enabling it to process its largest jet engine parts in-house. Through expansions in LaPorte, Indiana and Hampton, Virginia, and by expanding its 3D printing capabilities, Alcoa is extending its product range for next generation narrow- and wide-body aircraft engines, increasing its need for HIP capabilities. With this investment, Alcoa will be able to process any cast jet engine product in its current portfolio.
Alcoa is installing this new technology at its Alcoa Power and Propulsion facility in Whitehall, Michigan and anticipates it will be ready for product qualification in 2016. Alcoa’s eight other HIP production systems are also located in Whitehall, where it has a concentration of engineering and technical resources. Alcoa pioneered this technology in the aviation industry in 1973, and moved its first unit from Battelle Laboratory to Whitehall in 1975.
Demonstrating its support for the expansion, the City of Whitehall has approved a 12-year Industrial Facilities Tax Exemption valued at over $1,000,000.
Alcoa Inc. produces and manages primary aluminum, fabricated aluminum, and alumina worldwide. The company operates through four segments: Alumina, Primary Metals, Global Rolled Products, and Engineered Products and Solutions.
Shares of Banco Santander, S.A. (NYSE:SAN), inclined 2.84% to $7.25, during its last trading session.
Banco Santander SA, Spain’s largest bank, started a low-carbon and water investment company backed by $2 billion in assets with two Canadian pension funds, according to Bloomberg.
Cubico Sustainable Investments, based in London, will be held equally by Santander, the Ontario Teachers’ Pension Plan and the Public Sector Pension Investment Board, the investment company said Thursday.
The aim is to double the size of Cubico within five years, targeting returns of at least 10 percent depending on the risk profile, geography and stage of project development, Sebares said in a conference call, Bloomberg Reports.
Banco Santander, S.A. provides various banking products and services for individuals and companies. The company offers various deposit products, such as demand and time deposits; mortgages, auto finance, and personal credits; consumer finance; and mobile banking and electronic banking services.
At the end of Tuesday’s trade, Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT), gained 0.07% to $29.19.
Hilton Worldwide Holdings, declared the addition of five new property signings to the development pipeline of Curio – A Collection by Hilton. They will join the eight hotels that have opened as part of the collection since it launched at the NYU International Hospitality Industry Investment Conference just one year ago on June 2, 2014.
The five additions to the Curio collection pipeline comprise:
- The Amway Grand Plaza Hotel, Curio Collection by Hilton
- Anselmo Buenos Aires, Curio Collection by Hilton
- The Hoodoo Moab, Curio Collection by Hilton
- The Partridge Inn Augusta, Curio Collection by Hilton
- Redmont Hotel Birmingham, Curio Collection by Hilton
Hilton Worldwide Holdings Inc., a hospitality company, owns, leases, manages, develops, and franchises hotels, resorts, and timeshare properties worldwide. The company operates hotels under 12 brand names, counting Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio - A Collection by Hilton, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton, and Hilton Grand Vacations.
Finally, U.S. Bancorp (NYSE:USB), ended its last trade with 0.37% surge, and closed at $43.13.
U.S. Bancorp, declared that Richard Davis, chairman, president and CEO is planned to take part in a discussion regarding the Company at the Morgan Stanley Financials Conference. The session will start at 3:00 p.m. EDT on Tuesday, June 9, 2015, in New York City. The discussion will comprise information about U.S. Bancorp’s financial performance and corporate strategies.
A live audio-webcast of the session will be accessible through U.S. Bancorp’s website at usbank.com. To access the webcast, go to U.S. Bancorp’s website and click on “About U.S. Bank” and then “Webcasts & Presentations” under the Investor/Shareholder information heading, which is at the left side near the bottom of the page. A replay of the webcast will be accessible after the live event at the same location on the website and will remain posted for 90 days.
U.S. Bancorp, a financial services holding company, provides a range of financial services in the United States. It offers depository services, which comprise checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products, in addition to credit card services, leasing, financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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