Aircraft manufacturer Boeing announced on Tuesday, July 7, that it will acquire the business and operations conducted by Vought Aircraft Industries at its North Charleston, SC facility, where Vought builds key structures for Boeing’s 787 Dreamliner airplane. Vought performs fabrication, assembly of structures, and systems installation of 787 aft fuselage sections. Boeing will acquire the North Charleston facility, its assets, and inventory and will assume operation of the site. Vought will receive approximately $589 million at closing and will be released from repaying any sums previously advanced by Boeing. The sale is expected to be finalized in the third quarter ’09. Industry analysts eyed this move as a means of assuring the flow of key materials so as to ramp up to actual production of the 787 Dreamliner, a project that is about two years behind schedule.View the original announcement on the Boeing website.
Boeing Announces Major Acquisition
