Boeing is in the process of
acquiring Vought Aircraft Industries' interest in Global
Aeronautica, LLC, a South Carolina fuselage sub-assembly facility
for Boeing's newest airplane, the 787 Dreamliner. After the
transaction is complete, Global Aeronautica will become a 50-50
joint venture between The Boeing Company and Alenia North America,
a subsidiary of Italy's Alenia Aeronautica -- a Finmeccanica
company. Vought will continue to produce the aft fuselage for the
787 at its facility adjacent to Global Aeronautica in North
Charleston.
Closing will occur following receipt of regulatory approvals.
Terms of the transaction were not disclosed. The transaction will
not affect Boeing's current financial guidance. Boeing's supplier
management organization will continue to oversee Global Aeronautica
along with the other major 787 supplier-partner team members.
"As a partner in the Global Aeronautica joint venture, Boeing
will work with Alenia to apply proven lean manufacturing expertise
to continue improving the efficiency and productivity of GA's
operations, while Vought will focus on its primary business of
delivering quality aft fuselage structures for the 787," said Pat
Shanahan, vice president and general manager of the 787 program.
"All three partners in this transaction -- Boeing, Vought and
Alenia -- believe these changes will enable the 787 team to
continue to overcome supply-chain challenges of the program."
Elmer Doty, president and chief
executive officer, Vought Aircraft Industries, said, "This seamless
transition of joint venture ownership will build upon the strong
foundation already established within Global Aeronautica. Selling
our interest has no impact on our adjacent facility, where the
Vought 787 team remains focused on manufacturing composite fuselage
sections for this incredible airplane."
Giuseppe Giordo, president and chief executive officer, Alenia
North America, said, "The 787 program is a strategic program for
Alenia and its presence in South Carolina. We are confident that
with Boeing as an investor, the successful work of Global
Aeronautica will continue thanks to the hard work and dedication of
its management and employees."
"We look forward to working with the Global Aeronautica team and
continuing our relationships with Vought and Alenia as we move
ahead on the 787 program," said Shanahan.