Howmet Aerospace falls after Musk says SpaceX will make its own turbine blades
-7.51% to $244.95 from $264.85
What moved HWM
- Howmet Aerospace, a major maker of turbine blades and vanes for gas turbines, fell after Elon Musk posted that SpaceX would cast the components in-house.
- Musk said turbines are “sold out through 2030” and that SpaceX and Tesla will likely have to manufacture the blades and vanes internally to bring enough power online.
- SpaceX plans to cast the hot-section blades and vanes at a new foundry in Bastrop, Texas, a move reported to potentially cut turbine-generator delivery times by up to 18 months.
- Howmet is one of the incumbent manufacturers in gas-turbine component casting, alongside Berkshire Hathaway’s Precision Castparts and Doncasters.
Sources: Seeking Alpha · Tom's Hardware · Energy News Beat