Arconic Inc. has signed more than $450 million in long-term global agreements for its forged aluminum wheels over the past year with customers in the truck, trailer, bus and recreational vehicle segments — with its largest agreement involving truck maker Paccar Inc.
Specific terms of the transactions were not disclosed. Paccar is the parent company of the North American truck brands Kenworth Trucks and Peterbilt Motors.
On Nov. 1, Arconic launched as a global provider of multimaterial manufactured products after its separation from Alcoa Corp., which remains as a bauxite, alumina and aluminum company. “This new agreement builds on our decadeslong partnership with Paccar to deliver premium performance wheels to Paccar customers,” Merrick Murphy, president of Arconic wheel and transportation products, said in a statement.
As part of the agreement, Paccar customers will have access to Arconic’s entire portfolio of Alcoa wheels, including its newly launched Ultra One wheel.
By converting from steel to aluminum wheels, a truck trailer can shed up to 1,400 pounds, Arconic said.
