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THURSDAY, NOVEMBER 26, 2009
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Boeing Buys Dreamliner Supplier, Sparks Move Rumors

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(Newser) – Boeing Co. today agreed to buy the manufacturing operations of South Carolina-based Vought Aircraft Industries, a key supplier for its much-delayed 787 Dreamliner, in a deal that’s causing much consternation in Seattle, NPR reports. Boeing has long threatened to leave its production base in Washington state for cheaper pastures, and Vought’s South Carolina plant is surrounded by enough empty land for a full-blown 787 production line.

Boeing declined to comment on the speculation. The deal will cost a total of $1 billion; Boeing will pay $580 million in cash, and forgive $422 million in cash advances to Vought. One Seattle-based analyst says the deal may galvanize those hoping to keep Boeing in Washington. “Maybe this is the 2x4 upside the head that they need to wake up.”

An executive from Vought Aircraft, talks to the media at the North Charleston Plant in South Carolina in this file photo. Boeing Co. says it will pay $580 million in cash for a South Carolina plant.
An executive from Vought Aircraft, talks to the media at the North Charleston Plant in South Carolina in this file photo. Boeing Co. says it will pay $580 million in cash for a South Carolina plant.   (AP Photo/The Post and Courier, Brad Nettles, file)
In this April 30, 2009 file photo, a Boeing 787, painted in the company's colors, stands in the paint hangar at the company's facility in Everett, Wash.
In this April 30, 2009 file photo, a Boeing 787, painted in the company's colors, stands in the paint hangar at the company's facility in Everett, Wash.   (AP Photo/Elaine Thompson, file)
Photographer Steve Ringman leans back as he shoots video of a Rolls Royce engine on a Boeing 787, the first of the model scheduled to fly, at the plant Thursday, April 30, 2009, in Everett, Wash.
Photographer Steve Ringman leans back as he shoots video of a Rolls Royce engine on a Boeing 787, the first of the model scheduled to fly, at the plant Thursday, April 30, 2009, in Everett, Wash.   (AP Photo/Elaine Thompson)
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3 comments
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Timinator2K
Jul 8, 09 8:49 AM CDT
And if Cap & Tax gets going, they'll move alright...to China or, Mexico. Reply
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IN RESPONSE:
ClingingToHope
Jul 8, 09 9:01 AM CDT
Timinator2K. You get a thumbs up from me. Wait until the global warming nazis find your post!
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IN RESPONSE:
themuffinman
Jul 8, 09 9:28 PM CDT
Timinator2K, it looks like the global warming nazis already got to you. I am not sure what they were doing reading a Business related story (really nothing granola about Boeing), but know that I "the muffin man" support you worthy cynical crusade despite the repressive boohooing of treehuggers.
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(Newser) - Boeing was expecting to ride high on defense contracts in mid-2009 even as its 787 Dreamliner transformed air travel—but widespread problems have shadowed the firm's "dream summer," Dan Reed writes in USA Today. The Dreamliner's launch was delayed for a fifth time after structural problems were discovered,... More »

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MARKETS

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Bank of America, JP Morgan Chase post modest advances

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