7/8/2009

To smooth production problems with its 787 Dreamliner, Boeing said it will buy a South Carolina manufacturing plant identified as a major source of the delays. The plant, owned by Vought Aircraft Industries in Dallas, makes sections of the plane's rear fuselage. Boeing said it will pay $580 million for the facility as well as forgive a $422 million advance given to Vought. "We believe our ability to accelerate production and efficiency at the South Carolina [plant] will generate a quicker return on that $400 million investment than staying on the path we were on with Vought," said a Boeing spokesman.

Related Summaries