WEST JORDAN, Utah, Jan. 11, 2013 /PRNewswire/ -- Boeing (NYSE: BA) today announced the purchase of a new building in Salt Lake County, Utah. Employees at the new site, located in West Jordan, will focus on fabrication of composite horizontal stabilizer components for the 787-9.
"The site we've chosen is an ideal location to add composite manufacturing capability focused on Boeing's key business strategies," said Ross R. Bogue, vice president and general manager of Boeing Fabrication. "This new facility will provide a real competitive advantage in our supply chain by expanding our internal composite capabilities."
The new site, located 20 miles from Boeing's fabrication and assembly site in Salt Lake City, was purchased from Masco (NYSE: MAS). Terms of the sale were not disclosed. The close proximity of the two facilities will help improve the efficiency from component fabrication to assembly of the 787-9 horizontal stabilizer.
The composite component fabrication facility is expected to create approximately 100 new jobs. "Hiring will begin immediately," said Craig Trewet, director of Boeing Salt Lake. "We'll begin by hiring project managers and engineers and will then be filling production positions over the next several quarters."Boeing expects to refurbish the 850,000 square foot building to complement the company's current operations in Salt Lake County. Sitts & Hill will design the space inside the building's factory area. Design and construction are expected to take two years. When finalized, the facility will provide the Boeing Salt Lake team with the flexibility to meet the demands of the highly competitive markets that Boeing serves. This further demonstrates Boeing's commitment to the state of Utah and to the company's current and future workforce. "Boeing appreciates its continued relationship with the state of Utah and we are looking forward to creating a new partnership with the city of West Jordan," Trewet said. Boeing is the world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV