Howmet Aerospace (HWM) will need to boost the production of parts used in engines of Boeing (BA) and Airbus during 2025, the company's Chief Executive John Plant said Friday at a conference.
"I think we're going to have to take [original equipment] production up this year," Plant said, according to a FactSet transcript.
Howmet also expects to see an uptick in fasteners demand after a February fire incident at an SPS Technologies factory in Pennsylvania affected fasteners inventory.
Plant said the company already has three customers for fasteners, with "lots more to bid."
The comments come on the heels of Boeing CEO Kelly Ortberg's statement that the company plans to increase its production of 737 jets to 47 per month by late 2025.
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