Boeing to buy plant from 787 supplier
CHICAGO (Reuters) – Boeing Co (BA.N), the world's second-largest plane maker, said on Tuesday it will pay $580 million for a plant that makes part of the fuselage of its long-delayed 787 Dreamliner.
The South Carolina facility is owned by Vought Aircraft Industries and release it from obligations to repay money previously advanced by Boeing, the company said in a statement.
The deal, which is expected to close in the third quarter, may give Boeing more control over its supply chain. Boeing last month announced a further delay of the first test flight of the carbon-composite 787. The latest delay was caused by a structural flaw, while previous delays have been related to suppliers.
"Integrating this facility and its talented employees into Boeing will strengthen the 787 program by enabling us to accelerate productivity and efficiency improvements as we move toward production ramp-up," said Scott Carson, chief executive of Boeing Commercial Airplanes.
Boeing will buy the plant, its assets and inventory and will assume operation of the site. After the transaction, Vought will continue its work on several Boeing programs, Boeing said.
Vought is owned by Carlyle Group (CYL.UL).
(Reporting by Kyle Peterson; Editing by Derek Caney)