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Mike Benbow, Business Editor benbow@heraldnet.com

Boeing buys half of 787 plant in S.C.

Herald staff

The Boeing Co. will buy 50 percent stake in a South Carolina facility used in building its delayed 787 Dreamliner, the company announced today.

Boeing plans to acquire Vought Aircraft Industries’ interest in Global Aeronautica LLC, a South Carolina fuselage sub-assembly facility for Boeing's newest airplane, the 787 Dreamliner. After the transaction is complete, Global Aeronautica will become a 50-50 joint venture between Boeing and Alenia North America, a subsidiary of Italy's Alenia Aeronautica. Vought will continue to produce the aft fuselage for the 787 at its facility adjacent to Global Aeronautica in North Charleston.

"As a partner in the Global Aeronautica joint venture, Boeing will work with Alenia to apply proven lean manufacturing expertise to continue improving the efficiency and productivity of GA's operations, while Vought will focus on its primary business of delivering quality aft fuselage structures for the 787," said Pat Shanahan, vice president and general manager of the 787 program. "All three partners in this transaction – Boeing, Vought and Alenia – believe these changes will enable the 787 team to continue to overcome supply-chain challenges of the program."

Boeing has fallen nearly a year behind schedule on its 787 Dreamliner. The company relies on major global partners, like Alenia, to supply key sections. The 787 goes through final assembly in Everett.

The delays, which Boeing has blamed on parts shortages, supply chain issues and assembly problems, mean partners like Vought won't receive full payment for many months after originally planned.

"This seamless transition of joint venture ownership will build upon the strong foundation already established within Global Aeronautica," said Elmer Doty, Vought president and chief executive officer. "Selling our interest has no impact on our adjacent facility, where the Vought 787 team remains focused on manufacturing composite fuselage sections for this incredible airplane."