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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InAlbany International Corp. announced that its segment, Albany Engineered Composites (AEC), has secured a long-term supply agreement with Pratt & Whitney, an RTX business. Under the contract, AEC will manufacture composite structural engine components for the Pratt & Whitney GTF commercial engine program through 2036. The award highlights AEC's specialized capability in delivering high-volume, high-precision composite structures for advanced aviation technology. This agreement provides significant long-term revenue visibility for the mid-cap industrial firm over the next decade. The partnership underscores Albany International's critical role in the aerospace supply chain. While specific financial terms were not disclosed, the extended duration of the contract marks a positive development for the company's industrial backlog.