US metals producer Alcoa has signed $1bn agreement with Airbus to supply high-tech, multi-material aerospace fastening systems.

Considered to be the largest contract between the companies, the deal includes supplying titanium, stainless steel and nickel-based super-alloy fastening systems for every Airbus platform.

The new superior fasteners are capable of protecting the aircrafts against lightning strikes and wear and tear. It claims to improve reusability of conventional and composite aircraft.

Alcoa chairman and CEO Klaus Kleinfeld said: "Our growing aerospace capabilities, technology strength and global, first-rate customer service continue to strengthen Alcoa’s decades-long partnership with Airbus.

"Our growing aerospace capabilities, technology strength and global, first-rate customer service continue to strengthen Alcoa’s decades-long partnership with Airbus."

"Alcoa is proud to partner with Airbus to provide breakthrough technologies for some of the most advanced aircraft in the world."

Alcoa’s advanced fastening systems are expected to improve the assembly of aircraft panels and engine pylons on newer airplanes with sophisticated design features.

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The systems will be produced at 14 manufacturing facilities of the company.

Airbus will use Alcoa’s fasteners in its latest fleet of aircraft such as A350 XWB, newest commercial airplane, A320neo, and the A330.

Alcoa’s subsidiary Alcoa Fastening Systems & Rings designs and manufactures its equipment, which includes speciality fasteners, fluid fittings, assembly components, installation systems, and seamless rings for aerospace and industrial applications.

With more than 8,700 employees, the company has 39 manufacturing and distribution locations in 13 countries.

In September, Alcoa split itself into two separate and independent public companies, one focusing on bauxite mining, aluminium refining and production, and the other on engineered products for the automotive and aerospace industries.