(Yicai Global) Dec. 13 -- Shares of Jiangsu Longda Superalloy rose after a unit of the Chinese alloy producer signed a 10-year supply deal with a French airplane engine manufacturer.

Longda’s stock price [SHA: 688231] closed up 2 percent at CNY37.45 (USD5.37) today, after rising by as much as 3.2 percent in the morning.

Safran Aircraft Engines will buy high-temperature alloys used in making key aviation and aerospace parts from Jiangsu Longda Superalloy Material, according to an agreement they signed on Dec. 9, its Wuxi-based parent firm said yesterday, without disclosing any other details.

Longda’s annual production capacity of high-temperature alloys, the cornerstone of advanced plane engine manufacture, will increase to 8,000 tons from 6,000 tons by the end of the year after new capacity comes on stream, the firm told visiting institutional investors last month. The products have already been used in aircraft engines, gas turbines, and other equipment, it said.

Safran produces airplane engines, with propulsion systems designed and developed by its units used on the European Space Agency’s Ariane rockets and liquid rocket boosters, Longda noted. 

Editor: Martin Kadiev