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Thu, Aug 22, 2013

Bond Issue In Place For Airbus' Mobile, AL Assembly Plant

Facility Expected To Open In 2015

The Mobile, AL Airport Authority has secured a $260 million bond issue backed by Airbus' credit for the construction of the A320 final assembly plant at the Brookley Aeroplex. 

The bond issue was confirmed late Monday by Roger Wehner, executive director of the Mobile Airport Authority, which has jurisdiction over the Aeroplex. Al.com reports that the bond will be retired by lease payments made by Airbus on the 116 acre facility.

Wehner said no city money has gone into the bond issue. It is being backed entirely by Airbus, and all of the proceeds from the bond sales will go towards the construction of the European planemaker's first final assembly plant in the U.S. The bonds will be issued at the end of the month.

Airbus forecasts that the plant will be completed in 2015, with the first U.S.-assembled A320 delivered to a customer the following year. It is expected to eventually produce 40 to 50 airplanes each year.

(Artist's rendering of Mobile final assembly plant provided by Airbus)

FMI: www.brookleyaeroplex.com, www.airbus.com

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