Boeing buys out 787 partner in S.C.
Tuesday, December 22, 2009 | 5:28 am
EVERETT -- The Boeing Co. has bought out its partner's interest in a 787 assembly site in South Carolina, the company announced Tuesday.
"The Boeing Charleston site is critical to the success of the 787 program," said Jim Albaugh, president and CEO of Boeing Commercial Airplanes. "Ultimately, we believe integration of the site will increase productivity for the 787 program and allow us to maintain our long-term competitiveness."
Boeing is purchasing Global Aeronautica's stake in a 787 fuselage assembly factory in Charleston, S.C. Global Aeronautica is the North American subsidiary of Italy's Alenia Aeronautica, a 787 partner.
Last year, Boeing bought out Vought Aircraft Industries' stake in its joint venture with Global Aeronautica. Today's announcement by Boeing makes the Chicago-based aerospace company the sole owner of the 787 fuselage assembly site.
Earlier this year, Boeing also bought out Vought's 787 fuselage production factory in Charleston. Boeing named Charleston the site of its future second 787 final assembly line as well.
"We look forward to integrating the employees of both operations into one team in North Charleston, along with continuing our partnership with Alenia on the 787 program," said Albaugh.
Boeing initially relied on global suppliers like Alenia and Vought to produce major sections of its mostly composite 787 Dreamliner. But the 787 problem has suffered major delays and suppliers like Vought have struggled to keep up financially. Boeing's delayed 787 made its maiden flight last week, more than two years behind schedule. Its second 787 is scheduled to make its first flight this morning.
"The Boeing Charleston site is critical to the success of the 787 program," said Jim Albaugh, president and CEO of Boeing Commercial Airplanes. "Ultimately, we believe integration of the site will increase productivity for the 787 program and allow us to maintain our long-term competitiveness."
Boeing is purchasing Global Aeronautica's stake in a 787 fuselage assembly factory in Charleston, S.C. Global Aeronautica is the North American subsidiary of Italy's Alenia Aeronautica, a 787 partner.
Last year, Boeing bought out Vought Aircraft Industries' stake in its joint venture with Global Aeronautica. Today's announcement by Boeing makes the Chicago-based aerospace company the sole owner of the 787 fuselage assembly site.
Earlier this year, Boeing also bought out Vought's 787 fuselage production factory in Charleston. Boeing named Charleston the site of its future second 787 final assembly line as well.
"We look forward to integrating the employees of both operations into one team in North Charleston, along with continuing our partnership with Alenia on the 787 program," said Albaugh.
Boeing initially relied on global suppliers like Alenia and Vought to produce major sections of its mostly composite 787 Dreamliner. But the 787 problem has suffered major delays and suppliers like Vought have struggled to keep up financially. Boeing's delayed 787 made its maiden flight last week, more than two years behind schedule. Its second 787 is scheduled to make its first flight this morning.
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