This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Boeing, Ethiopian Airlines Expand Wire Harness Production

CHICAGO, Oct. 10, 2013 /PRNewswire/ -- Boeing (NYSE: BA) and Ethiopian Airlines today announced an agreement to double wire harness production at Ethiopian Airlines' Wire Harness Facility.

The Wire Harness Facility, based in the Ethiopian capital Addis Ababa, opened in 2009 and currently supplies seat-to-seat wire harnesses for all Boeing commercial airplane programs. Following today's announcement Boeing and Ethiopian Airlines will place additional work at the facility, which will double its output by the end of 2014. With support from Boeing, Ethiopian will manufacture more varied and complex wire harnesses, expanding its value as an aerospace supplier.

Today's agreement was signed at The Corporate Council on Africa's 9th Biennial U.S.-Africa Business Summit in Chicago, designed to develop closer business relationships between African and U.S. industries.

"Today's agreement opens a new chapter in the 60 plus years of mutually beneficial partnership between Ethiopian and Boeing.  It is also a concrete testament that Ethiopian is no longer just an airline but is transforming itself into an aviation service provider of quality products, utilizing the latest technology," said Tewolde Gebremariam, chief executive officer of Ethiopian Airlines, and recipient of the African Business Leader of the Year award by the Corporate Council on Africa in 2012. "In line with our Vision 2025, we have re-structured our maintenance, repair and overhaul (MRO) division into a strategic business unit that will develop new capabilities, enabling it to become the most competitive and leading provider of commercial aircraft MRO services in Africa."    

The increased output in Addis Ababa has been made possible by the Wire Harness Facility's ability to consistently deliver high-quality products. In 2012, Ethiopian Airlines' facility was recognized by Boeing for its outstanding performance and awarded a gold rating in Boeing's Performance Excellence Awards – the highest rating a Boeing supplier can achieve.

"Today's agreement is testament to the world-class competitiveness and capabilities of Ethiopian industry," said Van Rex Gallard, vice president of Sales for Africa, Latin America and the Caribbean, Boeing Commercial Airplanes. "Boeing and Ethiopian Airlines already share a rich history based on trust, collaboration and the pursuit of excellence. The expansion of work in developing wire harnesses is another significant chapter in the long shared history between both companies."

Celebrating 66 years of partnership with Boeing, Ethiopian Airlines currently operates a passenger fleet dominated by Boeing airplanes, including Next-Generation 737s, 757s, 767s, 777s, and 787s and a cargo fleet that includes 757s, an MD11 and 777 Freighters.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs