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Boeing Moving To New Complex In Huntsville

Stocks in this article: BA

HUNTSVILLE, Ala. , Nov. 14, 2012 /PRNewswire/ -- Boeing [NYSE: BA] is moving to a new office complex near the U.S. Army's Redstone Arsenal and NASA's Marshall Space Flight Center in Huntsville as the company consolidates several of its locations in the area. The move to Redstone Gateway reflects Boeing's commitment to managing costs and increasing competitiveness for growth.

"As Boeing begins its 51st year in Alabama, this development agreement allows us to make the most of our facilities to best meet our business needs and those of our customers," said Tony Jones, vice president and Boeing Huntsville site executive. "Just as Huntsville is supportive of companies such as ours that are important contributors to the community, Boeing is committed to this city's future health. The City of Huntsville, Redstone Arsenal and NASA have validated this plan as being not only right for Boeing and our ability to meet customer commitments, but also important for the future economic viability of Huntsville, where many of our employees live and raise their families."

The recently signed development agreement will result in 363,000 square feet of office space in a Boeing-named, three-building complex. Boeing is scheduled to occupy the first building in spring 2013; construction of the second and third buildings is expected to begin by the end of 2012 and be completed by spring 2014. Boeing will retain its facilities at the company's owned Jetplex location.

" Boeing regularly reviews its facilities to locate opportunities for consolidation and/or elimination of costly infrastructure in order to bring down overhead costs," Jones added. "This Huntsville consolidation is one significant example."

Boeing is the largest aerospace company in Alabama and one of the state's largest employers. Current company operations in Huntsville include the Ground-based Midcourse Defense program and other missile defense work, including the Standard Missile-3 Block IIB program, the Arrow Weapon System, the Avenger, and the Patriot Advanced Capability-3 seeker. Huntsville-based programs that support NASA include Exploration Launch Systems, which oversees design and development of the new Space Launch System, and the International Space Station. The site also hosts Boeing's Rotorcraft Support business, and provides engineering support for commercial and commercial-derivative airplanes. With innovative and affordable capabilities to support the customer, Boeing in Huntsville is a Low Cost, High Tech Center of Excellence.

A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $32 billion business with 61,000 employees worldwide. Follow us on Twitter: @BoeingDefense .

Related images are available at boeing.mediaroom.com.

Contact:

Scott Day Strategic Missile & Defense Systems Office: 703-872-4206 Mobile: 703-403-3083 scott.day2@boeing.com

Jessica Carlton Strategic Missile & Defense Systems Office: 256-461-5124 Mobile: 256-603-7137 jessica.m.carlton@boeing.com

Patti Soloveichik Space Exploration 256-476-6046 patricia.a.soloveichik@boeing.com

SOURCE Boeing Defense, Space & Security

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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